Vodacom Revenue Rises, Helped by Strong Growth in Egypt

By Najat Kantouar

Vodacom Group reported higher revenue for its fiscal third quarter, mainly driven by strong growth in Egypt, and said it remains focused on delivering its medium-term targets.

The South Africa-based telecommunications company--majority owned by the U.K.'s Vodafone Group--said Wednesday that revenue for the quarter through Dec. 31 rose to 43.90 billion South African rand ($2.75 billion) from 39.53 billion rand for the same period a year earlier.

Financial services posted a double-digit percentage increase, while mobile money platforms, including Safaricom, processed $500.7 billion in transaction value over the last 12 months, Vodacom said.

Service revenue--a closely watched metric in the industry--rose about 13% on a reported basis to 34.61 billion rand, mainly driven by Egypt, with 39% growth on a reported basis in the quarter. South Africa and international segments grew around 1% and 13%, respectively.

"This encouraging momentum underscores our confidence in the group's medium-term growth trajectory in an operating environment shaped by macroeconomic and currency stability, which should bode well for the group's performance for the full financial year," Chief Executive Shameel Joosub said.

Write to Najat Kantouar at [e-mail]

(END) Dow Jones Newswires

02-04-26 0207ET