July 24, 2018 / 6:19 AM / 24 days ago

South Africa's Vodacom Q1 revenue boosted by increase in customers

JOHANNESBURG, July 24 (Reuters) - Vodacom Group, South Africa’s biggest mobile phone operator by market value, reported on Tuesday a 4.2 percent rise in group revenue for the first quarter, boosted by service revenue growth in its home market and a increase in customers.

The firm said reported group revenue rose to 21.55 billion rand ($1.60 billion) for the quarter ended 30 June 2018 compared with 20.65 billion rand ($1.53 billion) in the previous reporting period.

“In South Africa, despite a tougher economic environment, we grew service revenue by 4.9 percent, supported by customer growth of 9.5 percent to reach 43.1 million customers,” said Chief Executive Shameel Joosub in a statement.

Vodacom added 2.5 million customers during the quarter, with 1.5 million from South Africa and 1 million from its international operations.

$1 = 13.4804 rand Reporting by Tanisha Heiberg; Editing by Kirsten Donovan

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