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MTN releases mid-2019 financial results

August 12, 2019 • Finance, Mobile and Telecoms, Top Stories

MTN releases mid-2019 financial results

MTN Group announced an encouraging set of results for the six months ended 30 June 2019.

On Thursday, 8 August 2019, mobile network operator, MTN announced its results for the six months ended 30 June 2019.  The company saw growth of 12 per cent in earnings per share and service revenue grew to just below 10 per cent. 

Commenting on the results, Rob Shuter, MTN Group President and CEO, says “we had a good first half, reporting solid financial results, good commercial momentum and encouraging strategic progress”. 

“Commercially, we had strong subscriber growth of 7,7 million in the first six months of the year to reach a total of 240 million subscribers.  The number of active data users grew by 3,5 million to 82 million and our 30-day active Mobile Money users grew by 2,4 million to 30 million”. 

“Our continued focus on the customer experience has seen us record brand NPSˆ leadership across more than 50% of the portfolio, with 12 markets now leading. That contributed to MTN being named the most valuable South African brand in the Brand Finance South Africa 50 report and the most admired African brand by Brand Africa 100”.

“During the period we had some landmark events. We successfully completed the listing of MTN Nigeria on the Nigerian Stock Exchange and our e-commerce joint venture Jumia listed on the New York Stock Exchange. Within three months of announcing our asset realisation programme, which is targeting at least R15 billion over the next few years, we delivered R2,1 billion in proceeds”.

“Our advanced instant messaging platform, Ayoba, is now live in three of our West African markets and has more than 300 000 active monthly users. We are very pleased with the formal approval of our super-agent licence in Nigeria, which clears the way for the launch of phase 1 of our Nigeria fintech business while we await a banking licence.”

Edited by Jenna Cook

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