Vodacom (Neutral, TP: ZAR150, +32%) Q1 24 Quick Take: Better quarter helped by South Africa
Vodacom reported a better set of results, with group service revenue coming in 0.5% ahead of consensus. Better group service revenue growth was supported by improvements in South Africa, led by price ups in its mobile contract business and better fixed service revenue.Vodacom is an investment holding company. Through its subsidiaries, Co. is engaged in the provision of a range of communications products and services including but not limited to voice, messaging, converged services, broadband and data connectivity. Co.'s segments comprised of: Corporate, which include the holding companies of Co. which do not relate to specific operating segment; South Africa, which include information relating to the South African-based cellular network, service provider and other business segments; and International, which include information relating to the non-South African-based cellular networks in Tanzania, Mozambique, Lesotho and the Democratic Republic of Congo.
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