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MTN Group on Monday reported a 72.3% tumble in full-year revenue as a pointy devaluation within the Nigerian naira pushed its largest unit MTN Nigeria to a loss.
MTN share worth
South Africa-headquartered MTN stated its headline earnings per share – one of many foremost revenue measures – fell to 315 cents for the 12 months ended on December 31, from a restated 1 137 cents a 12 months earlier.
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Learn: MTN expects as much as 90% revenue plunge
Nigeria’s central financial institution in June adopted new foreign exchange guidelines that MTN stated had since led to an roughly 96.7% devaluation within the change charge to 907.1 naira per greenback by the top of December.
Adjusted headline earnings per share declined by 9.5% to 1 203 cents.
MTN, with 295 million prospects in 19 African markets, declared a last divided of 330 cents per share and stated its group service income grew by 6.9% to R210.1 billion.
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