South Africa’s Vodacom hit by Ethiopia network roll-out

South African telecoms operator Vodacom Group said on Monday its half-year headline earnings fell 9.5%, impacted by start-up losses in Ethiopia and higher finance costs.

Vodacom, majority-owned by Britain’s Vodafone VOD.L, said headline earnings per share, the main profit measure in South Africa, fell to 457 cents in the six months ended Sept. 30 from 505 cents a year earlier.

Vodacom said it implemented a new simplified dividend policy, which is set at least 75% of Vodacom Group headline earnings, and declared an interim dividend of 340 cents per share. Nasdaq