Namibia’s MTC notches up small profit rise as costs spiral

10 Apr 2008

Namibian cellco Mobile Telecommunications Company (MTC) has posted a 1.8% rise in net profit to NAD493.5 million (USD63.9 million) in 2007, on revenues that rose by 18.7% to NAD1.1 billion, as its operating costs rose significantly. Earnings before tax increased from NAD568.1 million in 2006 to NAD586.6 million, whilst CAPEX increased by NAD122 million year-on-year to NAD339 million. The GSM operator’s subscriber base reached 800,000 by the end of the year, up from 610,000 at the end of 2006, with over 90% of customers using its pre-paid ‘Tango’ services. Income from contract customers was NAD254.6 million in 2007, up from NAD219.4 million in 2006, whilst pre-paid earnings reached NAD622.3 million, up from NAD498.6 million the previous year. MTC, which is 34% owned by Portugal Telecom, launched 3.5G W-CDMA/HSDPA services in May 2007.

Namibia, Mobile Telecommunications (MTC)