South Africa's MTN Group reports 33% rise in Q1 core profit
Group earnings before interest, tax, depreciation and amortisation (EBITDA) jumped 33% on a constant-currency basis in the first quarter ended March 31, and reflects a 5.3 percentage point increase in margin to 44.1%, MTN said, without giving the value of EBITDA.
Group service revenue increased 10.4% overall in the quarter, or by 19.8% in constant currency. That was buoyed by 40.4% growth in MTN Nigeria (MTNN.LG), opens new tab and 39.5% in MTN Ghana.
MTN South Africa continued to navigate competitive challenges, most notably in the prepaid segment, with service revenue up by 2.6%.
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