MTN sees 49% sales growth

29 Mar 2007

Pan-African cellular group MTN reported a 49% increase in turnover to ZAR52 billion (USD7.66 billion) in 2006. The rise was attributed both to organic subscriber growth and the acquisition of the Investcom group, which has operations across the Middle East. EBITDA was up 53% to ZAR22 billion, while net profits rose to ZAR10.6 billion. The group said customer numbers were up 73% year-on-year to over 40 million, including around 16 million in the South and East Africa region, 20 million in West Africa and around five million in North Africa and the Middle East.

South Africa, MTN Group