MTN Group records 7.1% Revenue Growth in Q1, 2017
MTN Group has reported a 7.1 per cent rise in its revenue growth in the first quarter of 2017.
The management of the company said that the increase in revenue was as a result of its strong performance in data services to its numerous customers.
Group Chief Executive Officer, MTN, Mr. Rob Shuter, who made this known in Johannesburg, South Africa, said that data revenue alone contributed 20 per cent of total revenue of the group, which was up by 29.4 per cent for the three months ended March 31, 2017.
According to Shuter, as a result of the increase, shares in MTN were up from 1.36 per cent to 128.52 rand at early trading.
“In our key markets of South Africa, Nigeria and Iran, significant network investments made over the past few years are underpinning the improving revenue trends.
“The network investment planned for 2017 is expected to support further market share gains across our markets”, he said.
The group’s CEO noted that year-to-date capital expenditure stands at 4.6 billion Rands.
The company, which does the bulk of its business in emerging markets, said Nigeria’s subscriber base declined by 2.3 per cent in the quarter due to new regulations, while total revenue increased by 11.6 per cent.
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