By Ian Walker


MTN Group Ltd. said Thursday that service revenue continued to grow over the past two months, although Ebitda margin was less than that for the first nine months due mainly to pressures in MTN South Africa.

The South Africa-based telecommunications group said that group service revenue for the 11 months ended Nov. 30 grew 14.8% compared with 14.3% for the first nine months.

MTN SA's earnings before interest, taxes, depreciation and amortization margin for the period slipped to 3.2% compared with 3.5% for the first nine months due to "intensifying pressures in the trading environment." The company hasn't provide a figure for the group.

MTN said that it remains on track to deliver earnings for the year in line with its medium-term guidance with at least mid-teen growth in group service revenue.

MTN Group said the separation of its fintech business is on track with a second phase of meetings with potential investors having started.

The company said that its balance sheet remains resilient and that its liquidity position is strong.

MTN is due to report earnings for the year ended Dec. 31 around March 13.


Write to Ian Walker at ian.walker@wsj.com


(END) Dow Jones Newswires

12-15-22 0651ET