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Vodacom expects higher earnings

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Vodacom expects its headline earnings per share (HEPS) for the year ended 31 March to be between 25% and 30% higher than the  prior  year reported HEPS of 510 cents per share.

In a statement on SENS, Vodacom warns shareholders that basic earnings per share  (EPS) in  the prior year were impacted by net impairment charges of R3-4- billion.
Vodacom  expects to recognise impairment losses of approximately R1,5-billion for the year ended 31 March 2011, in relation to Gateway as a result of increased price competition and poorer trading trends.
EPS for the year ended 31 March 2011 are therefore expected to be between 95% and 105% higher than the prior year reported EPS of 282 cents per share.
The  financial information on which this trading statement is  based has  neither  been  reviewed  nor reported  on  by  Vodacom  Group`s auditors.