Vodacom full-year net profit inches lower
Ebitda from SA declined as data prices were reduced and because of costs linked to a BEE deal
Vodacom, which reported its first annual decline in net profit in four years on Monday, prepared investors for more trouble in its home market as SA mobile operators face pressure to reduce data prices. In April, the Competition Commission accused mobile operators of overcharging consumers, particularly low income earners. The companies charge more for data in SA than they do in other markets, the provisional findings of an ongoing data services market inquiry found. In response, mobile operators have said the commission relied on old data — ignoring recent price reductions — and that the government is partly to blame for high data costs because it has not allocated new spectrum in almost 15 years.
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