MTN back again in profit-making after turbulent 2016
has moved away from a turbulent 2016 that highlighted the risks of the
company’s emerging markets strategy to a profit-making firm.
first-half of the year had rebounded.
rand ($294.40 million), or 212 cents per share, in the six months to end June
compared with a loss of 4.9 billion rand, or 271 cents per share, a year
hope for the future. It is a very encouraging platform upon which to build our
strategy,” said Rob Shuter, former Vodafone European head, who became chief
executive in March.
due to the positive results.
to a $1.1 billion fine imposed by Nigerian authorities last year in a
long-running dispute over unregistered SIM cards.
regulators in the past few years had held back growth and threatened to tarnish
its image as one of post-apartheid South Africa’s biggest commercial successes.
a growth path with a shift away from basic telecoms services toward the ability
of its users to pay bills or watch live football matches on their phones.
countries in Africa and the Middle East.
last year was mainly due to “non-recurring costs”, including the Nigerian fine.
new head of M&, A Stephen van Coller, and finance head, Ralph Mupita,
may have other tricky issues to tackle in Nigeria and also Iran.