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Vodacom forecasts higher profits

Cellular network provider Vodacom (VOD) announced on Monday it expects its headline earnings per share for the six months ended September to be between 20% and 25% higher than the corresponding period last year.

It also said its basic earnings per share (EPS) for the same period is expected to be between 30% and 40% higher.

“Both HEPS and EPS were favourably impacted by strong underlying core operating performance and by the replacement of secondary tax on companies with dividend withholding tax‚ which is not included in the income statement tax expense‚” Vodacom said in a note on Monday. - I-Net Bridge

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