Vodacom's earnings will be higher for the first half of the year, because of accounting charges in the 2009 numbers, says SA's largest cellular company.
Vodacom says its earnings and headline earnings per share for the six months to September should be between 285c and 307c. Last year, headline earnings per share were 219c, and earnings per share were 4c a share.
A year ago, the company reported revenue of R28.7 billion. However, earnings per share declined 98.4%, to 4c, because of a reversal of a deferred tax asset in the Democratic Republic of Congo.
Headline earnings per share for the six months to September 2009 were impacted by a 52c a share loss on the reversed tax asset, as well as losses on re-measuring financial instruments.
The company is expected to report its results on 8 November. Its figures will not be affected by the launch of Telkom Mobile's 8ta, as the new arrival launched last Thursday and Vodacom's results cover the six months to September.
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