Cellular network operator MTN Group has adjusted its definition of a subscriber with effect from April this year.
Although the group reported last night that it had a subscriber base of 14.3 million at the end of March, 50% up on last year, its readjustment means that it had 15.6 million subscribers - just more than Vodacom`s 15.5 million.
MTN has traditionally defined a subscriber in SA as someone who made or received a revenue-generating call in a 90-day period, but in its international operations, the more conservative approach was taken - using a 30-day period.
It says it will now apply the 90-day criterion throughout its operations to align them to a common standard.
Vodacom also applies a three-month rule.
Nigeria showed the most growth during the period. Still using the 30-day criterion, Nigerian subscribers increased from 1.97 million to 4.39 million.
MTN`s subscriber details were announced at the release of the group`s results for the year to March, which showed a 47% increase in net profit, from R4.37 billion to R6.41 billion, on the back of a 21% increase in revenue from R23.87 billion to R28.99 billion.
SA, where subscribers increased from 6.27 million to 8 million, accounted for R17.75 billion (2004: R15.18 billion) of revenue.
Revenue from Nigeria grew by 34% to R9.3 billion, despite the rand strengthening against the naira during the year.
The group`s net asset value stood at 9.58c a share at the end of the period, compared with 6.11c previously, while cash holdings amounted to R5.84 billion, compared with R3.65 billion previously.
A dividend of 65c a share has been declared.
CEO Phuthuma Nhleko says although several potential acquisitions and new licence bids were pursued during the year, none of the deals came to fruition, although the group is continuing to look for meaningful opportunities.
"Looking ahead, we expect to continue to show good subscriber growth and maintain a strong market position in all our operations despite intensifying competition. While a meaningful capital expansion programme in Nigeria and SA is planned for the current financial year, this is likely to be fully funded by the operations and is expected to support further subscriber and revenue growth."
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