• EDITORIAL POLICY
  • ABOUT US
PML Daily
No Result
View All Result
  • Home
  • NEWS
    • Politics
    • Education
    • Regional
    • Africa
    • World
  • INVESTIGATIONS
    • National Archives
    • Special Reports
  • OpEd
  • BUSINESS
    • Agriculture
    • Tech
    • Finance
  • FEATURES
    • Health
    • Tours & Travel
    • Entertainment
    • Society
  • COLUMNISTS
    • The Suited Penguin
  • SPORT
  • Jobs
  • Magazines
  • Home
  • NEWS
    • Politics
    • Education
    • Regional
    • Africa
    • World
  • INVESTIGATIONS
    • National Archives
    • Special Reports
  • OpEd
  • BUSINESS
    • Agriculture
    • Tech
    • Finance
  • FEATURES
    • Health
    • Tours & Travel
    • Entertainment
    • Society
  • COLUMNISTS
    • The Suited Penguin
  • SPORT
  • Jobs
  • Magazines
No Result
View All Result
PML Daily
No Result
View All Result
Home BUSINESS

MTN group posts strong first-quarter service revenue growth

JAVIRA SSEBWAMI | PML Daily Staff WriterbyJAVIRA SSEBWAMI | PML Daily Staff Writer
May 10, 2019
7 0
5
SHARES
100
VIEWS
FacebookWhatsAppTwitter
MTN group has posted strong first-quarter service revenue growth. (PHOTO/FILE)

AFRICA- Telecommunications giant MTN Group has met its medium-term revenue growth guidance, posting a 10% year-on-year increase to R33.2-billion, supported by a continued rise in voice, data and financial technology (fintech) revenue, during the three months to March 31, 2019.

This was led by strong first-quarter operational performance in South Africa, Nigeria and Ghana.

“MTN’s positive commercial momentum continued in the first quarter with a pleasing operational performance across the markets, led by South Africa, Nigeria and Ghana. Group service revenue grew by 10% year-on-year, in line with our medium-term guidance of double-digit service revenue growth,” said group president and CEO Rob Shuter on Thursday.

Outgoing voice revenue for the quarter under review increased 5.9%, data revenue increased 18.3% and fintech revenue surged 30.6%.

However, the group’s digital revenue plunged 45.4%, owing to the optimisation of value-added services business.

“We are pleased by the service revenue development, despite challenges in some markets,” added group CFO Ralph Mupita.

MTN South Africa achieved a 4.6% increase in service revenue to R9-billion, within the company’s medium-term guidance range, with a sterling performance from the wholesale business.

South Africa’s data and fintech revenue increased by 3.1% and 21.1% respectively, while digital and outgoing voice revenue declined by 35.7% and 4.4% respectively.

MTN South Africa’s margin on earnings before interest, taxes, depreciation and amortisation was 38.8% during the three months to March. On an IAS 17 basis, the margin remained unchanged at 35.3%.

Meanwhile, MTN Nigeria reported a solid quarter with service revenue increasing by 13.4% year-on-year, meeting the company’s double-digit growth guidance.

This was led by a 32.4% increase in data revenue and a 12.7% increase in voice revenue.

MTN Nigeria reported an amortisation margin of 53.3%.

The Southern and East Africa and Ghana grouping delivered a strong performance, mostly driven by MTN Ghana, MTN Uganda and MTN Rwanda, with an aggregate service revenue increase of 21.2%.

In the West and Central Africa region, performance had been impacted negatively by the under performance of MTN Ivory Coast, leading to a 1.4% contraction in the region’s service revenue.

In the Middle East and North Africa, excluding Iran, service revenue increased by 22.6%.

“We made good progress in our work to build a digital operator, adding 2.6-million active data subscribers and 1.2-million MTN Mobile Money subscribers,” Mr. Shuter continued.

While South Africa lost nearly 1.2-million subscribers quarter-on-quarter, the group recorded a year-on-year increase from 29.8-million subscribers in the first quarter of 2018 to 30.01-million in the first quarter of 2019.

At the end of March, MTN South Africa had 24.1-million prepaid users, 5.9-million postpaid subscribers and three-million Internet of Things subscribers.

The subscriber numbers in Nigeria surged from 58.1-million and 54.5-million in the first and fourth quarter of 2018, respectively, to 60.2-million in the first quarter for 2019.

Overall, the group’s subscribers as at March 31 reached 236.6-million, up from 220.8-million in the first quarter of 2018 and 232.5-million in the fourth quarter of 2018.

Related

Leave a comment

Tags: CEO Rob ShuterfintechMTN GhanaMTN GroupMTN Ivory CoastMTN RwandaMTN south africaMTN ugandaRalph Mupittop

Get real time update about this post categories directly on your device, subscribe now.

Unsubscribe

Advertisement

About

The PML Daily, published via www.pmldaily.com is a publication of Post Media Ltd, a professional Digital/New Media company in Uganda.

Follow us



  • EDITORIAL POLICY
  • ABOUT US

© 2022

No Result
View All Result
  • Home
  • NEWS
    • Politics
    • Education
    • Regional
    • Africa
    • World
  • INVESTIGATIONS
    • National Archives
    • Special Reports
  • OpEd
  • BUSINESS
    • Agriculture
    • Tech
    • Finance
  • FEATURES
    • Health
    • Tours & Travel
    • Entertainment
    • Society
  • COLUMNISTS
    • The Suited Penguin
  • SPORT
  • Jobs
  • Magazines

© 2022

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist