Telco-giant, MTN has released its 2018 half year results for the period ended 30th June 2018. Figures from the result show that the number of new subscribers on its network increased by 2.9 million during the period. This put the total number of subscribers at 55.2 million in the country. This implies that subscribers in the country account for an estimated 25 percent of the total subscriber base of 223 million as at June 2018.
The report also shows a surge in the company’s data revenue by 63.7 percent, voice revenue increased by 17.3 percent, data traffic also increased by 52 percent.
For the 2018 half year, MTN Nigeria reported a revenue of 21 billion rands (N567 billion), an increase of 17 percent.
The telco giant affirmed its determination to list on the Nigerian Stock Exchange (NSE) before the end of this year, noting that it had made a good progress on the listing plans.
According to MTN Group President and CEO, Rob Shutter:
“MTN had an encouraging first half of 2018, with an acceleration in the second quarter,
supported by an improved operational performance across many markets. This was led by
Nigeria, Ghana and South Africa. Service revenue growth increased, driven by robust voice
revenue growth and the continued expansion of data and digital revenue. This in turn was
supported by a 2.8% increase in subscriber base, continued network rollout, increasing
3G and 4G population coverage and improving customer service.”
MTN Group reported a revenue of 62.8 billion Rands (N1.7 trillion), while service revenue increased by 10.2 percent. Data revenue increased by 26.7 percent to 15 billion rands.
The company also declared an interim dividend of 175 cents per share.
Just recently, MTN quit its operations in Cyprus, its only presence in Europe is in Cyprus. The telecommunication company divested its Cyprus units for $305 million.