MTN grows earnings and subscriber numbers
Despite increasing competition and a slower economic backdrop, mobile services giant MTN Group (MTN) reported a 43.2% increase in adjusted headline earnings per share to 1,070 cents for the year ended December 2011.
The group grew its subscriber base by 16.2% to 164.5 million and continued to hold a strong market position.
Revenue was 9.7% higher on a constant currency basis while earnings before tax, depreciation and amortization (EBITDA) margin expanded 3.4 percentage points to 44.9%.
The group EBITDA margin includes the profit from the sale of the Ghana passive infrastructure, which if excluded, reduces the group EBITDA margin to 43.9%.
This is approximately the same level achieved in the prior year excluding the one time Zakhele charge of R2.973 billion.
The group declared a final dividend of 476cents.
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