{"id":875494,"date":"2024-11-11T17:27:52","date_gmt":"2024-11-11T11:57:52","guid":{"rendered":"https:\/\/telecomlive.in\/web\/?p=875494"},"modified":"2024-11-11T17:56:23","modified_gmt":"2024-11-11T12:26:23","slug":"south-africas-vodacom-posts-half-year-profit-slide-as-ethiopian-costs-bite","status":"publish","type":"post","link":"https:\/\/telecomlive.in\/web\/2024\/11\/11\/south-africas-vodacom-posts-half-year-profit-slide-as-ethiopian-costs-bite\/","title":{"rendered":"South Africa&#8217;s Vodacom posts half-year profit slide as Ethiopian costs bite"},"content":{"rendered":"<p>South Africa&#8217;s biggest telecoms operator Vodacom, majority owned by Britain&#8217;s Vodafone, reported a 19.4% drop in half-year earnings, hurt by start-up losses in Ethiopia and foreign currency depreciation. <\/p>\n<p>Vodacom launched Safaricom Ethiopia last year with a consortium led by Kenya&#8217;s Safaricom, which is part-owned by the South African company and Vodafone, betting that the populous nation will power growth after about five years of investment. <\/p>\n<p>The group said in a statement that Safaricom&#8217;s profit was stunted by Ethiopian operations which were &#8220;impacted by currency reforms in the period.&#8221; The business, however, reached a 6.1 million customer base, up 47.1% year-over-year, reflecting strong commercial momentum. <\/p>\n<p>Headline earnings per share, a profit measure, fell to 353 cents in the six months ended on Sept. 30, from 438 cents a year earlier. <\/p>\n<p>Group service revenue declined 1.2% to 58.6 billion rand ($3.33 billion) due to currency headwinds, however, on a normalised basis it grew 9.9%. <\/p>\n<p>The board declared an interim dividend per share of 285 cents.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>South Africa&#8217;s biggest telecoms operator Vodacom, majority owned by Britain&#8217;s Vodafone, reported a 19.4% drop in half-year earnings, hurt by start-up losses in Ethiopia and foreign currency depreciation. Vodacom launched Safaricom Ethiopia last year with a consortium led by Kenya&#8217;s Safaricom, which is part-owned by the South African company and Vodafone, betting that the populous nation will power growth after about five years of investment. The group said in a statement that Safaricom&#8217;s profit was stunted by Ethiopian operations which were &#8220;impacted by currency reforms in the period.&#8221; The business, however, reached a 6.1 million customer base, up 47.1% year-over-year, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[8],"tags":[],"class_list":["post-875494","post","type-post","status-publish","format-standard","hentry","category-telecom"],"acf":[],"_links":{"self":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/875494","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/comments?post=875494"}],"version-history":[{"count":0,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/875494\/revisions"}],"wp:attachment":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/media?parent=875494"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/categories?post=875494"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/tags?post=875494"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}