MTN swings to annual profit
Africa's biggest telecoms operator MTN Group said on Monday, 16 March, it swung to an annual profit before tax of R47.4bn ($2.81bn), driven by strong performances in MTN Nigeria and MTN Ghana.
A man walks past an MTN logo outside the company's headquarters in Johannesburg, South Africa, 13 March 2023. Reuters/Siphiwe Sibeko/File Photo
South Africa-headquartered MTN had reported a restated loss before tax of R4.1bn in 2024.
The group's service revenue rose 22.7% to R218.5bn in the year ended 31 December, led by strong growth of 54.9% and 35.9% in Nigeria and Ghana, respectively, the mobile operator said in a statement.
MTN South Africa reported overall service revenue growth of 2% amid competitive pressures in the prepaid segment.
The operator declared a final dividend of 500c per share, up 45%.
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Reporting by Nqobile Dludla; Editing by Himani Sarkar and Eileen Soreng