News Column

South Africa : NEOTEL REVENUE rises 23% to R3.9 BILLION

May 27, 2014

The revenue of Neotel has been rised by 23% to R3.9 billion for the year ended March 2014, on the back of solid customer growth.

This constitutes the first time that the company has reported actual figures on its financial results, since it introduced in 2006.

The group said that it turned profitable before tax for the first time since its inception, ending 2014 with a figure of R87 million.

It is indicated by Neotel to earnings before interest, taxes, depreciation, and amortisation of just over R1 billion, affording the company a capex spend of R500 million in the coming financial year.

The total business subscribers went up by 28%, while small enterprise and retail customers grew 33%.

Total customers has been raised to 200,000, from 175,000 in the half year period, while business clients stood at just under 3,000.

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Source: TendersInfo (India)

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