MTN revenue up, but naira drags profit down
The network operator said its headline earnings per share - one of the main profit measures - fell to 315 cents for the year ended on 31 December, from a restated 1,137 cents a year earlier.
Nigeria's central bank in June adopted new forex rules that MTN said had since led to an approximately 96.7% devaluation in the exchange rate to 907.1 naira per dollar by the end of December.
Adjusted headline earnings per share declined by 9.5% to 1,203 cents.
MTN, with 295 million customers in 19 African markets, declared a final divided of 330 cents per share and said its group service revenue grew by 6.9% to R210.1bn.
Source: Reuters
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