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MTN Group, Africa’s biggest mobile phone operator, says it has moved away from a turbulent 2016 that highlighted the risks of the company’s emerging markets strategy to a profit-making firm.
MTN said on Thursday in Johannesburg that it’s earnings for first-half of the year had rebounded.
It said that its headline earnings came in at 3.9 billion rand ($294.40 million), or 212 cents per share, in the six months to end June compared with a loss of 4.9 billion rand, or 271 cents per share, a year earlier.
“These numbers give us hope for the future. It is a very encouraging platform upon which to build our strategy,” said Rob Shuter, former Vodafone European head, who became chief executive in March.
MTN’s shares were nearly 3 per cent higher at early trading due to the positive results.
The results were bolstered by the absence of charges related to a $1.1 billion fine imposed by Nigerian authorities last year in a long-running dispute over unregistered SIM cards.
MTN said on Thursday in Johannesburg that it’s earnings for first-half of the year had rebounded.
It said that its headline earnings came in at 3.9 billion rand ($294.40 million), or 212 cents per share, in the six months to end June compared with a loss of 4.9 billion rand, or 271 cents per share, a year earlier.
“These numbers give us hope for the future. It is a very encouraging platform upon which to build our strategy,” said Rob Shuter, former Vodafone European head, who became chief executive in March.
MTN’s shares were nearly 3 per cent higher at early trading due to the positive results.
The results were bolstered by the absence of charges related to a $1.1 billion fine imposed by Nigerian authorities last year in a long-running dispute over unregistered SIM cards.
