MTN Group exceeds 150 million subscribers end-April

MTN Group announced that its global subscribe base has passed the 150 million mark, after it added 8.4 million customers during the first four months of 2011. The cellco has networks in 21 countries.

Group revenue improved only marginally mainly as a result of the continued strengthening of the Rand against the US dollar and increased competition. Due to political unrest, operational performance has been impacted negatively in Cote d` Ivoire and to a lesser extent in Yemen and Syria.

Had there been no movement in the exchange rate, revenue and earnings before interest, tax, depreciation and amortization (EBITDA) would have been meaningfully higher. Total revenue was still driven primarily by voice revenue however non voice revenue contribution continues to increase.

MTN`s capital expenditure was lower than anticipated to the end of April mainly due to slower than planned rollout in Nigeria, South Africa and Ghana. However, a significant amount of the capital expenditure originally anticipated for the period has already been committed.

The MTN board also decided that the creation of a formalised subsidiary company board for the international operations will not be progressed at this point in time.