January 31, 2018 / 5:45 AM / 21 days ago

South Africa's Vodacom Q3 revenue up on rising customer base

JOHANNESBURG, Jan 31 (Reuters) - Vodacom Group, South Africa’s biggest mobile phone operator by market value, reported on Wednesday a 6.7 percent rise in its third-quarter group revenue, buoyed by an increasing customer base in its home market.

The firm said group revenue rose to 22.6 billion rand ($1.89 billion), in the quarter ended Dec. 31, from 21.2 billion rand a year ago, while service revenue increased 5.5 percent to 18.4 billion rand.

“Our strategy of sustained investment into our network and improving customer experience has delivered solid gains in customer numbers in South Africa, and driven growth in our international operations, resulting in stronger growth in group revenue,” said Chief Executive Shameel Joosub in a statement.

Vodacom added 2.5 million group active customers during the quarter, with 1.6 million from South Africa and 0.9 million from its international operations.

The company now has 73.6 million active customers across the group, up 13 percent year-on-year.

$1 = 11.9448 rand Reporting by Nqobile Dludla; Editing by Sherry Jacob-Phillips

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