Mtn records profit of N98.931 bn in 6 months
As subscribers reach 61.5 million
Admin l Friday, July 26, 2019
LAGOS, Nigeria – MTN Nigeria Limited has posted a profit after tax of N98.931 billion for the year ended June 30, 2019, about N25,535, 571 billion above the profit after tax posted for the year N73,395, 387 2018.
In the period of six months, profit before tax was N141. 797 billion. Direct network operating cost was put at N117,977,007, billion for the same period. Advertisement, sales promotion and sponsorship was N8,514, 390 billion.
Speaking on the development, MTN Chief Executive Officer, Mr. Ferdi Moolman said the company sustained a solid performance in the first part of 2019, delivering double digit growth in service revenue underpined by growth in voice and data revenue.
“We added 3.3 million customers to our network, incrising our subscriber base to 61.5 million. Pleasingly, we saw data subscribers increase in the period by 2.1 million to 20.7 million.
We made significant network investments to improve network quality and expand our 4G coverage. Our recent work to revamp our data prices and accelerate our 4G network has put us in a strong competitive position to offer more value to our customers, supporting data and voice revenue growth which will ultimately strengthen our business “, he said.
