South Africa-based MTN Group has unveiled its financial results for the six months ended 30 June 2011, reporting that consolidated group revenues increased by 1% to ZAR56.0 billion (USD7.8 billion) year-on-year. Earnings before interest, tax, depreciation and amortisation (EBITDA) increased by 4% year-on-year to ZAR25.2 billion during 1H11, whilst operational profit increased 5% to ZAR17.8 billion. No figures for net profit have been provided.
In operational terms, MTN revealed that its consolidated subscriber base reached 152.3 million at 30 June 2011, a rise of 7.5% year-on-year. MTN’s domestic unit, MTN South Africa, continues to provide the bulk of subscribers in the South and East African (SEA) region, increasing its customer base to 19.799 million in 1H11, with around 4.6 million subscribers utilising 3G devices at that date. MTN credits the South African unit’s success to growth in the pre-paid segment, chiefly driven by its MTN Zone offer, which allows subscribers access to a discounted call rate if they are in an area experiencing a low volume of MTN traffic. Elsewhere, in the West and Central African (WECA) region, MTN Nigeria – the group’s largest operator – expanded its subscriber base to 40.50 million. Meanwhile, in the Middle East and North African (MENA) region, MTN saw sustained growth from its Iranian operation, MTN Irancell, which increased its customer base to 32.18 million during the first half of 2011. MTN credits the solid subscriber gains in Iran to stable tariff plans and sustained promotional activity.