MTN optimistic in ‘challenging market’
Telecoms giant MTN says in its latest interim results report that it will increase its focus on products and services as competition in the market intensifies.
The group’s results to end June 2012 show 17.5% year on year revenue growth to R66.4 billion, net attributable profit increase to R21.6 billion and subscriber growth of 6.9%.
MTN said it remained optimistic, notwithstanding challenging market conditions. With an aggressive 3G roll-out , a comprehensive device strategy and appealing local content, the Group saw its data (excluding SMS) contributing 10% to Group revenue. MTN expects its data strategy to be further supported by the West African Cable System (WACS), which became operational in May this year.
It also noted that its Mobile Money, now available in 13 countries, now has 7.3 million users.
The Group says as markets mature and competition intensifies, its key priorities over the next six months will be to maintain its leadership position with an increased focus on customer experience and countering competition through innovative and relevant products and services.
This strategy will be supported by continued investments in infrastructure to ensure quality and capacity, the rollout of efficiency initiatives and value accretive M&A opportunities.