TNM posts 17% rise in H1 revenue
14 September 2018
Telekom Networks Malawi (TNM) has reported revenue of MWK41.7 billion (USD56.8 million) for the six months ended 30 June 2018, an increase of 16.5% from MWK35.8 billion in the year-ago period. Service revenue grew by 16.8% year-on-year to MWK40.7 billion, while EBITDA totalled MWK15.8 billion, compared to MWK11.9 billion in H1 2017. Profit after tax increased from MWK4.7 billion to MWK6.9 billion over the same period, driven by the company’s initiatives to improve its revenue streams and cost management strategies.
TNM invested MWK10.6 billion in the first half of 2018, down slightly from the MWK12.3 billion spent the previous year. The projects mainly consisted of the expansion of 4G LTE broadband technology, quality improvement, increasing coverage across the country and the rollout of a new mobile money platform.