MTN Group Limited has said its improved operational performance across the business coupled with the proceeds from asset sales delivered healthy profit growth last year.

Headline earnings per share increased by between 30 per cent and 50 per cent last year, even after a downward adjustment from a change in reporting standards, the Johannesburg-based telecom company said in a statement after market closed yesterday.

While MTN provided little further detail, a spokeswoman highlighted the group's biggest market of Nigeria as a significant high performer. Disposals including minority stakes in two tower joint ventures for $540 million also helped support growth, she said.

MTN is looking to raise as much as 60 billion rand ($4 billion) from its ongoing asset-sale plan, with further tower businesses and a stake in the carrier's Nigerian unit up for sale. The company has more than 20 markets across Africa and the Middle East.

The shares have declined 2.7 per cent in the past 12 months, valuing the company at 157 billion rand.

© Pakistan Press International, source Asianet-Pakistan