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MTN Nigeria earns N100bn in six months

Posted by By Godfrey Ikhemuemhe on 2004/11/26 | Views: 1327 |

MTN Nigeria earns N100bn in six months


Interim results released by the MTN group in South Africa yesterday, indicated that MTN Nigeria continues to post superlative results within the group, earning more than N100 billion between March and September this year.

LAGOS ó Interim results released by the MTN group in South Africa yesterday, indicated that MTN Nigeria continues to post superlative results within the group, earning more than N100 billion between March and September this year.

The result indicated that the operations of MTN Nigeria experienced revenue growth of 38 per cent to R4.6 billion. MTNís active subscriber base also increased to 2,587,000, an increase of 32 per cent since March 2004, says Phuthuma Nhleko, MTN Group CEO
Announcing the results, Nhleko, said: "Our growth over this period has been pleasing and poises us well to be a leader in telecommunications in developing markets."

The result also indicated that MTN earns more per subscriber in Nigeria than in any other of its operations elsewhere. While the average revenue per user (ARPU) for pre-paid subscribers in the Nigerian operations of MTN is US$48, a slight decline from US$51 as at 31 March 2004, what MTN earns per subscriber on the average in South Africa stands at $16 on its pre-paid package.

Converted into Nigeria, it means that an average MTN subscriber in Nigeria spends about N6,300 on a monthly basis, as opposed to N2,000 by South African subscribers.

But the company has continued to invest on its network. According to the company: "MTN Nigeria continued with its accelerated network roll-out, commissioning 344 base stations and eight switches during the six months."

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