July 25, 2019 / 5:57 AM / 4 months ago

South Africa's Vodacom Q1 revenue rises on international sales

JOHANNESBURG, July 25 (Reuters) - South African mobile phone operator Vodacom Group Ltd on Thursday reported a 4.2% rise in its first-quarter group revenue as growth from its international business offset an anticipated lean performance at local markets.

Group revenue rose to 21.5 billion rand ($1.55 billion) for the quarter ended June 30, and service revenue was up 3.9% at 17.4 billion rand.

Despite the impact of cyclones Idai and Kenneth in Mozambique, international service revenue increased by 19.6%, largely driven by a 42.7% increase in revenue from Kenya’s Safaricom M-Pesa mobile financial services platform M-Pesa and data demand, group Chief Executive Shameel Joosub said in a statement. ($1 = 13.8752 rand) (Reporting by Nqobile Dludla, Editing by Sherry Jacob-Phillips)

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