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197m people paying MTN for services

Telecommunications group MTN said on Tuesday (28 May) that the group had increased its subscriber base by 4% in the four months to April 30 to 197.4m mobile subscribers across its operations.

29 May 2013

According to a Sens announcement the group's president and chief executive Sifiso Dabengwa said that group revenues increased 5.6% year-on-year for the period.

"MTN Nigeria recorded strong growth in reported revenue for the first four months of 2013 compared with same period in 2012. This performance was supported by strong growth in subscriber numbers and usage. Despite the larger-than-anticipated cut in termination rates in Nigeria‚ we remain comfortable with our forecast on MTN Nigeria's revenue and EBITDA (earnings before interest‚ tax‚ depreciation and amortisation) margin for the full year‚" he said.

MTN SA's performance was affected by weaker consumer demand and increased competition. However, the operation maintained its relative revenue share in the first four months of the year. MTN SA's revenue for the period was largely underpinned by an increased contribution from data and SMS revenue.

The group's operations in Iran‚ Ghana‚ Sudan and Uganda showed healthy growth in both revenue and subscribers for the period.

"MTN expects to deliver improved organic growth in both revenue and EBITDA this year and anticipates reaching 200m subscribers by the middle of the year‚" Dabengwa said.

Source: I-Net Bridge

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