JSE-listed MTN has boosted its subscriber base by another 6.1 million in the first three months of the year and says it is on track to add a total of 21 million new subscribers by December.
The group this morning issued a statement noting that revenue grew 42.2% year-on-year and its capital expenditure programme is on track. At year-end, MTN, which has operations in 22 countries across Africa and the Middle East, said it would spend R28.2 billion on capital items this year.
MTN president and CEO Sifiso Dabengwa says MTN "started the year strongly, increasing subscriber numbers by 3.2% quarter-on-quarter, to 195.4 million. This supported growth in traffic volumes and local currency revenue."
In SA, despite a slow start to the year, MTN maintained its market share and reviewed its market offerings to be more competitive," says Dabengwa. "In Nigeria, MTN continued to record a good performance in a highly competitive market."
Its performance is underpinned by a strong focus on continuous improvement in network quality and coverage, wider and more effective distribution and by the introduction of various innovative and competitive products and services to its customers, says Dabengwa.
MTN's capital expenditure programme, aimed at supporting subscriber growth into the future, is progressing well, Dabengwa adds.
MTN SA, which saw a "strong" 2012, experienced a weaker consumer environment, as well as increased pricing competition in the first three months of the year. Quarter-on-quarter, it lost 470 000 subscribers, and saw blended average revenue per user drop on the back of promotional activities and a decline in effective tariffs.
Towards the end of the quarter, there were signs of an improvement in both subscriber and revenue trends. Data revenue, a key focus, gained 15.7% year-on-year in SA, says MTN.
Share
