MTN tops 182.7 million subscribers

BUSINESS

MTN reports that it delivered a ‘satisfactory’ set of results for the quarter ended 30 September 2012, increasing subscriber numbers by 3.8% to 182.7 million.

The Group said its performance was underpinned by solid operational management and the rollout of appealing value propositions despite aggressive pricing competition, regulations and economic challenges across the different markets in which the Group operates.

It said this solid operational performance over the past quarter has enabled MTN to increase guidance for net additions for 2012 from 21.25 million to 23.70 million.

MTN said in a statement: “MTN has continued to implement on its strategic pillars of improving shareholder returns, developing existing and new revenue streams, optimising costs and improving customer experience. Most relevant during the quarter was the execution of competitive products and services in response to aggressive price declines in the market, a continued focus on data growth and improved network rollout. Looking forward to the balance of the year, acceleration of our network expansion will be a key priority across the majority of our operations, as network quality remains a key enabler for our business.”