South Africa's MTN Group reports 33% rise in Q1 core profit
South Africa's MTN Group, on Monday, reported a 33% jump in first-quarter core profit due to strong service revenue growth, lower device cost of sales in its domestic market and a more stable macroeconomic environment.
File photo: A person walks past an MTN logo outside the company's headquarters in Johannesburg, South Africa, on 17 November 2023. ReutersSiphiwe Sibeko/File photo
Group earnings before interest, tax, depreciation and amortisation (EBITDA) jumped 33% on a constant-currency basis in the first quarter ended 31 March, and reflects a 5.3 percentage point increase in margin to 44.1%, MTN said, without giving the value of EBITDA.
Group service revenue increased 10.4% overall in the quarter, or by 19.8% in constant currency. That was buoyed by 40.4% growth in MTN Nigeria and 39.5% in MTN Ghana.
MTN South Africa continued to navigate competitive challenges, most notably in the prepaid segment, with service revenue up by 2.6%.
Source: Reuters
Reuters, the news and media division of Thomson Reuters, is the world's largest multimedia news provider, reaching billions of people worldwide every day.
Go to: https://www.reuters.com/Related
Spar Group launches Spar Mobile 5 hours MTN South Africa aims to boost 4G adoption with budget smartphones 6 May 2025 MTN suffers data breach exposing customer information 29 Apr 2025 #BehindtheCampaign: MTN's Today We Make Moves - A return to distinctive telco advertising 24 Apr 2025 MTN teams up with UK's Synamedia to launch African streaming platform 7 Apr 2025 MTN Cameroon wins court appeal to release seized assets 3 Apr 2025
