MTN Group reported a 72.3% drop in full-year profit due to Nigerian naira devaluation.
MTN Group reported a 72.3% drop in full-year profit to 315c per share as a sharp devaluation in the Nigerian naira hurt its largest unit, MTN Nigeria. Group service revenue grew 6.9% to R210.1bn ($11.06bn). Despite challenges, MTN maintained its medium-term targets, expecting service revenue percentage growth to be at least in the mid-teens in constant currency terms.
March 25, 2024
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