Telecommunications firm, MTN has earned ₦98.9 billion profit in the first half of 2019, ended June 30 and added 3.3 million new subscribers to its network, pushing its subscribers base in Nigeria to 61.5 million.It explained that its service revenue increased by 12.2 per cent; voice revenue by 11.4 per cent, while data earnings grew by 31.7 per cent.
Its result released yesterday indicated that its Fintech revenue increased 21.2 per cent, while earnings from its digital businesses increased by 64.5 per cent.
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The telecommunications firm, which made significant changes in its Nigerian board composition on Wednesday, said with its compliance to the International Financial Reporting Standards (IFRS 16), its Profit Before Tax (PBT) stood at N141.797b, Profit After Tax (PAT) amounted to N98.931, and Earnings per share stood at 486k as at June 30, 2019.
Giving more insight on the half year report, Chief Executive Officer, Ferdi Moolman, said: “In the first half of 2019, we sustained a solid performance, delivering double-digit growth in service revenue, underpinned by growth in voice and data revenue.
“We added 3.3 million customers to our network, increasing subscriber base to 61.5 million. Pleasingly, we saw data subscribers increase in the period by 2.1 million to 20.7 million.