MTN HEPS up 9% to 729 cents - CNBC Africa

MTN HEPS up 9% to 729 cents

Earnings

by Trust Matsilele 0

MTN'S Group CEO Sifiso Dabengwa upbeat as mobile operate's HEPS rise by 9%. PHOTO: Marketingworldmag.

The group's statement also reported a surge in both diluted and basic earnings per share.

The basic earnings per share rose from 700 cents in 2013 to 731 in 2014 with diluted earnings per share rising from 695 cents to 727 cents in 2014.

Sifiso Dabengwa, [DATA MTN:MTN Group Limited] president and chief executive officer welcomed the results saying this was an indication of improved performance by the mobile operator.

“The MTN Group delivered a solid operational performance for the six-month period to 30 June 2014,” said Dabengwa on the group's statement.

“Good growth was experienced in data and MTN Mobile Money usage but voice revenue continued to be impacted by aggressive competition, regulatory pressures and a weakening economic environment in key markets.”

(READ MORE: MTN & Pick n Pay's mobile banking to lower banking costs)

Dabengwa added that the group continued to benefit from the ongoing investment in its network, which enhances MTN’s offering and positions us well for sustained growth.

(READ MOREMTN ranked Africa's and S.Africa's top brand)

“MTN made good progress on delivering on our strategy in the period. The group continues to improve operational and cost effectiveness as well as explore opportunities to expand our product offering outside of traditional voice into the digital space.”

The group also reported an increased revenue by 10.7 per cent to 72 billion rand from 65 billion rand in the same period in 2013.

However, South Africa’s MTN revenue declined during the period under review by seven per cent to 19 billion rand from 20 billion in 2013, while Nigeria MTN revenue surged by 22 per cent to 27 billion rand from 22 billion in same comparable period last year.

(READ MOREMTN subscriber growth slower than expected)

MTN also said that the group subscribers increased by 3.5 per cent to 215 million.

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