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Stock impact report

Africa's Biggest Phone Firm Vodacom Six-Month Profit Drops 18% [Yahoo! Finance Canada]

Vodafone Group Plc - American Depositary Shares each representing ten Ordinary Shares (VOD) 
US:NASDAQ Investor Relations: vodafone.com/content/index/investors.html
Most Read from Bloomberg Sales at Johannesburg-based Vodacom climbed to 73.5 billion rand ($4.2 billion) in the six months through September, an increase of 1%, it said in a statement Monday. However, net income declined to 6.84 billion rand from 8.39 billion rand a year ago. The biggest challenge for African wireless carriers has been currency devaluation. Vodacom struggled with that in Ethiopia, and experienced a drop in the Egyptian pound during its reporting period, while its cross-town rival MTN Group Ltd. has seen its profits wiped out by the devaluation of the naira in Nigeria. “While we remain mindful of an evolving macro-economic environment across our footprint, including foreign-exchange rate risk, I believe that the group is well positioned to capitalize on opportunities once the global economy shifts from its current cautious optimism to sustainable growth,” Chief Executive Officer Shameel Joosub said. Vodacom cut its interim dividend by 7% to 2.85 rand per share Show less Read more
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