Subscriber base grew 10.5% to 64.3-million, with profit before tax jumping 31.1%
A man passes an MTN board in Lagos, Nigeria. MTN’s Nigerian business accounts for about a third of the group’s total profit. Picture: AFP PHOTO/PIUS UTOMI EKPEI
MTN, which also operates in several other African countries such as Ghana and Liberia, said its Nigerian business reported a 31.1% jump to 290.1-billion naira in profit before tax while its subscriber base grew 10.5% to 64.3-million In reaction, shares in the company, which have yet to fully recover from the highs notched up in 2015, rose 1.99% to R75.17, giving the operator a market capitalisation of R142bn.
MTN, which had become the poster child of SA’s postapartheid commercial success until the regulatory setbacks wreaked havoc on its balance sheet, said active data subscribers jumped 34.9% to 25.2-million while revenue from voice calls grew 8.4%.
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