MTN Group delivers improved results despite “challenging conditions”
MTN has released its consolidated financial results for the six months ended 30 June 2017. Standout figures from the group results included:
- Group revenue up by 6.7%* to R64.3 billion.
- Data revenue up by 31%* to R13.9 billion.
- Group service revenue up 7.5%* to R60 billion.
- MTN Mobile Money customers up 2.7 million to 17.9 million.
- EBITDA up 3.1%* to R21.2 billion.
- *Constant currency information.
MTN Group President and CEO Rob Shuter said the company was seeing “pleasing progress” in its key growth drivers of data and digital services. This was despite challenging macroeconomic conditions and foreign exchange currency pressures.
“MTN delivered improved results for the six months ended 30 June 2017 and is on track to meet the financial year 2017 guidance communicated in March 2017. Macroeconomic conditions remain challenging across a number of our markets,” said MTN. “Subscriber numbers in the period decreased by 3.6% to 231.8 million, impacted by a decline in subscriber numbers in MTN Nigeria and MTN Ghana.
This was largely a result of the Group’s initiative to modernise subscriber definitions to reflect the business’s changing mix of revenue streams.”