DURBAN – MTN Nigeria reported strong earnings for the nine months to end September, boosted by an increase in subscriber numbers, and voice and data revenue.
The group’s service revenue increased by 12.1 percent year-on-year to N854.9 billion (R35bn), in line with its medium-term double-digit guidance, driven by increases of 10.1 percent and 34.9 percent, respectively, in voice and data revenue.
The group said yesterday that voice remained a key contributor to service revenue at 73.5 percent, with its growth supported by an increase in subscribers, relatively stable tariffs and its targeted segment offerings using their customer value management toolkit.
As a result, earnings before interest, taxation, depreciation and amortisation (Ebitda) increased by 39.3 percent to N460.1bn, with data revenue rising 34.9 percent during the period.
MTN Nigeria chief executive Ferdi Moolman said the group’s performance was very encouraging, demonstrating the resilience of their business despite a challenging operating environment.