JOHANNESBURG - Mobile phone operater MTN said its service revenue rose 10.7 percent while its headline earnings per share jumped 85.2 percent to 337 cents in the year to December.

Group president and CEO Rob Shuter said MTN, which serves 233 million subscribers in 21 countries across Africa and the Middle East, had delivered a very encouraging performance in 2018, meeting its targets for growth in service revenue and EBITDA (earnings before interest, tax, depreciation and amortization).

"The group has now delivered eight quarters of continued operational improvements," he said.

"We continue to benefit from the demographic dividend in the countries in which we operate and, while the markets remain challenging, we continue to target service revenue growth ahead of inflation."

Earlier this week, Huawei and MTN signed a business innovation MOU, jointly committing to bringing cutting edge digital services to African business and consumers. 

The agreement was signed in Barcelona, Spain at the conclusion of the Mobile World Congress.  Huawei has a 17-year working relationship with MTN and is the company’s most important network solutions provider.  The signing of the joint business innovation memorandum is an important part of their strategic partnership. 

- African News Agency (ANA)