MTN recently released its interim financial results for the six months ended 30 June 2020. The group reported an increase of 15.96% in revenue to R84.08 billion (1H2019: R72.5 billion). Basic earnings per share rose to 674 cents from 254 cents in 1H2019. The board decided not to declare a dividend for the period due to the uncertainty resulting from COVID-19 and the potential impact it may have on MTN’s business and the countries in which it operates.
EBITDA margins increased by 1.2% from 1H2019 to 49.7% during 1H2020. This margin was impacted by the gain on disposal of MTN’s ATC Uganda and ATC Ghana tower associates and the impairment loss on the remeasurement of the Syria disposal group.
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