« Court remands Bamaiyi in SSS custody | Main | I’m hale and hearty - Adedibu »
July 17, 2007
MTC/Celtel records 62% revenue increase
Telecoms giant, MTC/Celtel Group, has recorded 62 per cent increase in revenue in the first six months of this year.
Akin Adewakun, Lagos. - 17.07.2007
It recorded a half-year revenue of $2.8 billion compared with $1.73 billion posted in the same period last year.
In a release issued by the telecoms company, the group’s half-year results also showed a growing customer base, leaping to over 32.145 million active customers in 20 countries in the Middle East and Africa, and reflecting an increase of 42 per cent when compared to 2006.
Consolidated revenues increased by 49 per cent from $1.855 billion to $2.77 billion; EBITDA grew from $871.5 million to $1.19 billion, an increase of 36 per cent representing an EBITDA margin of 43 per cent.
Net income reached $515 million, up from $454 million, an increase of 13 per cent over the same period last year representing earnings of $0.28 per share, 13 per cent above the EPS for same period in 2006.
Chief Executive Officer of MTC Group, Dr. Saad Al Barak, expressed the group’s delight to leverage on its previous performance to record another impressive performance in the first half of 2007.
He said the group’s investments in license acquisitions and network upgrading had started bearing fruits.
Posted by Publisher at July 17, 2007 03:32 PM
Comments
Post a comment
Thanks for signing in, . Now you can comment. (sign out)
(If you haven't left a comment here before, you may need to be approved by the site owner before your comment will appear. Until then, it won't appear on the entry. Thanks for waiting.)