Vodacom rakes in tidy profit
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17 May 2010
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Vodacom has boosted annual headline earnings by 22,3 percent, and said it will increase dividend and spend 7,4 billion rand in capital expenditure.
Vodacom, which is majority-owned by Britains Vodafone, said headline earnings per share for the year to end-March rose 22,3 percent to 510 cents.
Headline earnings, which strip out some one-off and non-trading items, are the main profit gauge in South Africa.
South AfricaҒs largest mobile phone operator declared a final dividend of 175 cents per share and said it would increase the dividend payout ratio to 60 percent in full-year 2011 from 40 percent.
"Our strengthened financial position supports an increase in our dividend payout to shareholders," said Pieter Uys, Vodacom's chief executive.
MTN, Africas largest mobile phone company by subscribers, said in March its adjusted headline EPS for the year to end-December dropped...
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