MTN Makes $6.7bn In Six Months With A 21.5% Rise In Nig, 7% Loss In South Africa

MTN, the JSE-listed mobile phone operator, posted results it described as “solid” operational performance in the six months to June this year with growth realised in data and mobile money.

The firm, which connects more than 215 million people in 22 countries in Africa and the Middles East, said during the period under review subscriber numbers increased 3.5 percent to 215 million with revenues surging 11 percent to R72.7 billion ($6.7 billion).

MTN Nigeria revenue soared 21.5 percent to R27 billion ($2.5 billion) while MTN South Africa revenue were 7 percent lower at R19.1 billion ($1.7 billion).

Data revenue surged 38.9 percent to R12.7 billion ($1.1 billion) while data users were 7.3 percent higher at 88.5 million.

However, voice revenue continued to be negatively impacted by forceful competition, regulatory pressures and a weakening economic environment in key markets.

MTN Nigeria posted a healthy performance in keeping with market prospects but the South African operation remained under pressure and steps were taken to improve its performance, MTN said.

“We continue to explore opportunities to expand our product offering outside of traditional voice and expect to increase our presence in the digital space by leveraging technology and maximising the opportunity of low internet penetration in many of our markets,” MTN said.


http://www.ventures-africa.com/2014/08/mtn-sees-3-5-rise-in-subscriber-base-revenue-hits-6-7bn/

Yet... dont ask me what