By Christian Moess Laursen

 

Vodacom Group said its revenue jumped in the first six months of the year, boosted by the acquisition of Vodafone Egypt, and declared an interim dividend.

The South Africa-based telecommunications company--which is majority owned by the U.K.'s Vodafone Group--said Monday that it made 72.8 billion South African rand ($3.89 billion), a 36% increase from ZAR53.71 billion in the same period a year prior.

The steep rise was mainly due to the acquisition of Vodafone Egypt, the largest in the company's history. The unit delivered service revenue of ZAR14.3 billion in the period, contributing 24% of the ZAR59.35 billion group service revenue.

Earnings before interest, taxes, depreciation and amortization rose 35% to ZAR27.29 billion on the back of the revenue increase, with a margin of 37.5%.

Net profit rose 24% to ZAR9.97 billion.

Vodacom Group declared an interim dividend of 305 South African rand cents, a decrease of 340 cents.

 

Write to Christian Moess Laursen at christian.moess@wsj.com

 

(END) Dow Jones Newswires

November 13, 2023 01:26 ET (06:26 GMT)

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