By Adria Calatayud
MTN Group Ltd. said Friday that third-quarter earnings and service revenue for the first nine months of 2020 rose, driven by a strong performances in its key South Africa, Nigeria and Ghana markets.
The South Africa-based telecommunications group said earnings before interest, taxes, depreciation and amortization increased 14% at constant currency for the first three quarters of the year with a margin of 43.3%, up from 41.9% a year earlier.
Service revenue for the period grew by 11% at constant currency.
The company said it delivered a solid performance in the third quarter, as positive momentum achieved toward the end of the first half was sustained. MTN said it benefited from a turnaround in its South African operations, with an acceleration in its core consumer and enterprise business units.
MTN said it added 12 million subscribers and 5.3 million active data users, bringing the group's total to 273.4 million and 107.2 million, respectively.
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(END) Dow Jones Newswires