Vodacom South Africa has reported a modest increase in service revenue in its annual results for the year ended 31 March 2024, but its operating profit has declined slightly.
Despite the growth in its service revenue, its operating profit saw a slight decline over the same period, dropping by 3.6% to R20.1 billion from R20.9 billion.The company said the revenue growth was supported by new services, the consumer contract segment, and prepaid mobile data. “Mobile prepaid data growth of 11.6% was supported by network resilience coupled with big data-led personalised offers.”Meanwhile, its mobile contract customer revenue increased by R23.5 billion. Vodacom said the segment benefited from price hikes during the first quarter of the financial year.Regarding subscriber numbers, Vodacom added 125,000 contract customers during the financial year, bringing its total contract customer base to 6.8 million — an increase of 1.9%.“We added 7.
Vodacom says greater smartphone penetration and network availability resulted in a 36.2% increase in data traffic on its network.
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