South African operator Vodacom’s shares closed lower for the third straight day on the Johannesburg Stock Exchange yesterday (Tuesday, March 12), though its active customer base grew.
Vodacom lost ZAR2.30 – 1.93 per cent – to fall to R116.70, representing a five per cent fall over the last ten days, a 10 per cent fall from its year-best ZAR129.83 in early January.
The company reported a drop in service revenue of 1.7 per cent for the quarter ended December 2012, to ZAR12.5 billion (US$1.4 billion).
However, Vodacom reported it grew its active consumer base in South Africa by 11.7 per cent year-on-year, to 30.6 million. Prepaid customers increased by 13.2 per cent, with contract customers growing by six per cent.
