MTN : Ghana Profit, Revenue Rose for First Nine Months of 2020

By Anthony O. Goriainoff

MTN Ghana said on Thursday that profit and revenue for the nine months ended Sept. 30 rose, and that although a progressive recovery is expected into 2021, the macro outlook for the rest of 2020 remains relatively uncertain.

The telecommunications company, an MTN Group Ltd. spinoff, said after-tax profit after tax was 1.05 billion Ghanaian cedi ($180.9 million) compared with GHC688.6 million for the year-prior period.

MTN Ghana's earnings before interest, taxes, depreciation and amortization were GHC2.37 billion compared with GHC1.87 billion for the same period last year.

Revenue for the period was GHC4.47 billion compared with GHC3.75 billion the year before.

The company's subscribers increased by 8.7% to 23.4 million, it said.

Write to Anthony O. Goriainoff at [e-mail]

(END) Dow Jones Newswires

10-29-20 0237ET