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Vodacom falls profit misses estimates

Johannesburg - Shares in Vodacom fall nearly 2 percent as the South African wireless phone operator misses estimates for both full-year profit and dividend and announces a 7 billion rand takeover of unlisted fixed-line phone operator Neotel.

Vodacom, the unit of Britain's Vodafone, is down 1.9 percent at 126.61 rand.

File photo: Nadine Hutton. Credit: Bloomberg

The company reported a 2.8 percent rise in full-year headline EPS to 894.4 cents, well below the 945 cents estimate in a Reuters poll of 13 analysts.

It also lagged behind a 848 cents consensus with its annual dividend of 825 cents per share. - Reuters

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