Tuesday, October 30, 2018

BUSINESS: MTN Group adds 2.5 mln subscribers in Q3, service revenue up 10% in first 9 months

MTN Group said it has added 2.5 million new subscribers in the third quarter, to serve 225.4 million people in 21 countries in Africa and the Middle East at the end of September. Active data subscribers increased quarter on quarter by 5.0 million to 74.2 million, and active mobile money customers grew over the same period by 1.7 million to 25.8 million.

Group service revenue increased year on year by 10.0 percent in the first nine months, led by a 23.9 percent increase in group data revenue, the company announced in a trading update. CEO Rob Shuter said the company saw an improved operational performance in many of its markets in the period, despite challenging operating and currency conditions. The revenue growth was ahead of the group's long-term target of high single-digit growth.

Reported capital expenditure to the end of the September was ZAR 16.4 billion, equal to 16.4 percent of revenues. The results exclude MTN Cyprus from end August, after completion of its sale.

MTN Uganda service revenue up 7.4% in first 9 monthsMonday 29 October 2018 | 09:41 CET | News

MTN Uganda recorded service revenue growth of 7.4 percent in the first nine months to 30 September compared with the same period in 2017, led by growth in voice and data revenue, while MoMo revenue declined following the implementation of new taxes.

Outgoing voice revenue grew 5.1 percent and data revenue increased by 12.4 percent in the period. MTN Uganda reported nearly 2.0 million active data subscribers, up by 10.8 percent quarter on quarter, and 5.4 million MoMo customers, up by 1.9 percent quarter on quarter.

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