South Africa’s Telkom said group revenue for the nine months ending 31 December increased by 0.9%, driven by a 40.7% rise in mobile service revenue.
Group revenue rose to 32.4 billion rand ($2.18 billion) compared to 32.1 billion rand YOY, said the company. The news sent shares up 7.6% to 39.74 rand at the open.
According to Telkom, active mobile customers were up more than a quarter to 14.9 million in the same period, as its investment in infrastructure had paid off amid heavy demand for broadband services.
Sipho Maseko, Telkom CEO, said the group delivered a solid set of results that was driven by robust mobile growth, solid sustainable cost management and strong free cash flow generation.
