MTN Ghana Reports Strong H1 Results
Telecommunications operator MTN Ghana reports impressive H1 results, with increased profit and revenue. Raises medium-term guidance for service revenue growth.
Telecommunications operator MTN Ghana has announced impressive financial results for the first half of the year, with significant growth in key areas such as voice, data, and Mobile Money revenue. The company has also revised its medium-term guidance upwards.
For the six months ended June 30, MTN Ghana recorded a pretax profit of 2.44 billion cedi ($213.6 million), a significant increase from GHS1.68 billion in the same period last year. Earnings before interest, taxes, depreciation, and amortization also showed improvement, rising to GHS3.47 billion from GHS2.68 billion.
The company's total revenue for the group saw a substantial increase, reaching GHS6.18 billion compared to GHS4.67 billion in the previous year. Service revenue experienced strong growth as well, rising by 32% to GHS6.16 billion in the first half.
Encouraged by these positive results, MTN Ghana has raised its medium-term guidance for service revenue growth from a low-20s percentage to a high-20s percentage.
Overall, MTN Ghana's strong financial performance reflects its commitment to delivering exceptional connectivity and services to its customers. With its continued focus on improving network infrastructure and delivering innovative solutions, the company is well-positioned to build on its success in the future.