3G, data and smartphones fuel MTN Nigeria’s growth
The Leadership reports that MTN Nigeria has announced a 3.7% growth in its subscriber base in the first year ended June 30. The telecommunications company said its subscriber base now stands at 43, 184 million.
MTN Nigeria reportedly contributes 24,43% to the MTN Group’s overall subscriber base in the 21 countries where it operates.
Financial results for January 1 to June 30 2012 presented by the Group in Johannesburg, South Africa, recently, showed growth in revenue of 17,5% year-on-year. This has been put down to strong operational performance and competitive value propositions in South Africa, Iran and Ghana the publication claimed.
According to the report MTN faced a tough first-half because of aggressive pricing competition during the second quarter fuelled by bonuses on recharge and other promotions. Growth in Nigeria was lower than anticipated as a result of intense competition.
The Group EBITDA margin expanded marginally to 44.9% mainly due to greater efficiencies and tighter cost controls across most operations.
The total revenue for MTN Nigeria in Naira grew by 4,4% attributed to an 11,5% increase in interconnect revenue and 130% increase in data revenue.