MTN H1 earnings down on Iran sanctions & rising debt
By: Business Day TVPublished: 2 months ago
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Mobile giant MTN released its interim results on Wednesday reporting a near 7% decrease in headline earnings per share, revenue is down over 3%, service revenue however is up 10% while profit after tax is down 5%, net debt has increased to nearly R70 billion and the company says that Iranian sanctions may further limit its ability to repatriate cash and future dividends from MTN Irancell. The company has declared an interim dividend of R1.75, that's down 30% but they have committed to a total dividend payout of R5 per share for this year. Rob Shuter, Group CEO of MTN joined Business Day TV on the line to drill into the detail behind the numbers.