Thursday, March 7, 2019
MTN Delivers Double Digit Growth
MTN reported a 10.2% increase in revenue for 2018 at constant exchange rates to 134 billion South African rand (9.3 billion US dollars). In Nigeria, service revenue leapt 17%, fuelled by strong demand for both voice and data services.
Group revenues from digital services, such as music, fell 33% to 3.9 billion rand "as a result of the ongoing value-added-services optimisation", while fintech revenues climbed 47% to 7.8 billion rand. Group capex fell to 19.3% of revenues, from 24% in 2017, as MTN benefitted from the deployment of low frequency spectrum offering broad coverage. MTN expects service revenues, including those from digital services, to grow at double digit rates in the medium-term. Source: MTN statements
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