MTN Group 1Q Earnings Rose; Backs Fiscal Year View
May 11 2023 - 3:43AM
Dow Jones News
By Kyle Morris
MTN Group Ltd. said Thursday that earnings rose in the first
quarter despite difficult market conditions and that it backed its
expectations for the full year.
The South Africa-based telecommunications group said earnings
before interest, taxes, depreciation and amortization for the
quarter were 24.26 billion South African rand ($1.29 billion)
compared with ZAR22.35 billion a year before.
Group service revenue was ZAR52.83 billion compared with
ZAR45.70 billion.
Voice revenue grew 6.6%, data revenue was up 26.9%, total
subscribers increased by 5.2% to 290.6 million and active data
subscribers rose by 11.9% to 140.4 million.
The process to exit Afghanistan remains on track, it said.
Capex guidance was maintained for 2023 at ZAR37.4 billion.
Write to Kyle Morris at kyle.morris@dowjones.com
(END) Dow Jones Newswires
May 11, 2023 03:28 ET (07:28 GMT)
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