Prime News Ghana

MTN records GH¢1.3bn profit

By Justice Kofi Bimpeh
facebook sharing button Share
twitter sharing button Tweet
email sharing button Email
sharethis sharing button Share

Mobile telecommunication leader, MTN Ghana recorded a profit of GH¢1.3 billion last year, about 38.4% year-on-year growth.

According to its 2020 Financial Statement, total revenue was however GH¢6 billion, 16.4% increase over that of 2019.

To this end, the board of the company is declaring an interim dividend of GH¢0.03 per share after reviewing the company’s first quarter results.

After reviewing the full year performance of the company, the board also recommended a final dividend of GH¢0.05 per share, bringing the total dividend for the year 2020 to GH¢0.08 per share. This represents 70.5% of profit after tax and a 33.3% increase in dividend per share over those paid for 2019.

MTN Ghana subscribers also increased by 23.4% to 24.4 million whilst active data subscribers increased by 32.4% to 10.8 million.

Active Mobile Money (MoMo) users also increased by 16.3% to 10.6 million. The company said this was the result of various promotions in the year, increased person-to-person transactional activity and the offer of more advanced services such as retail merchant payments and international remittances.

Digital revenue however declined by 6.2% year-on-year. During the period, MTN Ghana said it made some enhancements in its video and gaming offerings resulting in a 328% surge in the number of active subscribers* and increased adoption of its MyMTN and ayoba messaging apps.