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CIVH earnings jump tenfold as its stretches its dominance in the home to fibre market

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South Africa News News

Remgro’s telecom infrastructure unit says Vumatel has connected more than 2-million homes to the internet

Community Investment Ventures Holdings has shaken off previous years’ losses with interim earnings soaring tenfold as it continues to dominate SA’s fibre-to-the-home market.

Vumatel’s revenue increased 14.2% to R1.642bn, driven by its fibre infrastructure expansion programme and subscriber growth. Given that amount was spent across the group's operations, it implies that Telkom is spending less on its fibre network than CIVH. DFA’s revenue from continuing operations increased by 10.5% to R1.297bn, mainly due to annuity income increasing to R210m, while underlying operating earnings from continuing operations more than doubled to R647m.

 

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Vumatel and DFA earnings jump 900%According to the latest results from their holding company, Vumatel and DFA recorded R184 million in profit over six months in 2022, compared to a R23 million loss over the same period the year before.
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