South African mobile-phone operator Vodacom reported an 8 percent rise first-quarter revenue on Thursday helped by customer growth but said competition remains intense and it expected further pressure on pricing.
Vodacom, which is majority owned by Britain's Vodafone , said revenue totalled 15.6 billion rand($2.3 bln) in the quarter to the end of June, compared with 14.4 billion rand a year earlier.
The company said it had 45.4 million customers as of the end of the quarter, up 20.4 percent.
“Competition remains intense in all our markets and we expect further pressure on pricing in the future,” the company said in a statement.
Vodacom shares are up nearly 15 percent so far this year, compared with a 0.2 percent rise in the Johannesburg Top-40 index. - Reuters