Business Standard

South Africa's MTN first-quarter revenue rises nine percent, shares jump

Image

Reuters JOHANNESBURG

JOHANNESBURG (Reuters) - South African telecoms firm MTN Group reported on Thursday a 9.1 percent rise in its revenue for the quarter to the end of March, sending its shares five percent higher.

Revenue at Africa's biggest telecoms firm increased due to growth in Nigeria and Ghana, where voice revenue expanded, the company said in a statement.

MTN said its subscribers increased by 1.9 percent quarter-on-quarter with net additions of 4.1 million, while the group's data revenue was up by 26.9 percent.

The group's share price rose as much as 5.74 percent and later traded up 3.94 percent at 131 rand by 0813 GMT.

 

(Reporting by Nomvelo Chalumbira; Editing by James Macharia)

Disclaimer: No Business Standard Journalist was involved in creation of this content

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: May 03 2018 | 2:23 PM IST

Explore News