By Najat Kantouar

MTN Group backed its medium term guidance despite a challenging environment mainly due to geopolitical tensions in its core markets, that hit revenue growth.

The South Africa-based telecommunications group said Tuesday that for the period ended March 31 earnings before interest, taxes, depreciation and amortization before one-off items declined to 17.295 billion South African rand ($941.5 million) from ZAR24.26 billion for the same period a year earlier.

Group's service revenue fell to ZAR42.90 billion from ZAR52.83 billion.

Within this, voice and data revenue fell 32% and 15%, respectively. Fintech revenue increased by 11%, while total subscribers increased by 1% to 287.6 million and active data subscribers rose by 7.8% to 149.2 million.

MTN Group maintained its medium-term guidance, but cut its capital expenditure expectations to between ZAR28 billion and ZAR33 billion from between ZAR35 billion and ZAR39 billion previously.

Write to Najat Kantouar at

(END) Dow Jones Newswires

05-14-24 0201ET