See How Much Profit MTN Made In 2017
MTN Group is bouncing back to profitability.
You may recall that a heavy fine of $1.1 billion imposed on it by the Nigerian government resulted to annual losses for the Africa’s biggest mobile phone operator.
The company has now returned to annual profit in 2017 in the absence of one-off charges related to the fine.
Reuters quotes MTN as saying on Thursday that headline earnings totaled 3.3 billion rand ($278.82 million), or 182 cents per share, in the year ended December, compared with a loss of 1.4 billion rand, or 77% per share, a year earlier.
Headline EPS is the main profit measure in South Africa and strips out certain one-off items.
Group service revenue rose 7.2% to 124 billion rand, due to impressive performance in Nigeria, the company’s most lucrative but problematic market.
MTN said it would pay a total of 700 cents in dividend payouts for the year, unchanged from the previous year.
“We are confident that the foundation is in place for MTN to deliver strong growth over the medium term,” said Rob Shuter, MTN Group President and CEO.
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