MTN’S ANNUAL FIGURES SHOW 26% REVENUE INCREASE OVER 9 MONTHS
The MTN Group has released its annual report for the year ended 31 December 2005. The Group recorded revenue of R27.2bn, a 26% increase on the nine months ended December 2004.
Since inception in 1994, the MTN Group has invested R32,1bn in telecommunications infrastructure across its operations on the continent.
During the reporting period, MTN invested R6,7bn in network infrastructure, upgrades, and capacity expansion, providing 3G coverage in SA and GPRS and MMS capability in other markets.
Capital expenditure is expected to increase to R12,9bn in 2006. The 23,2m subscribers reported in the annual report increased to 24,1m in the quarter ended 31 March 2006.
“MTN is committed to contributing to socio-economic development in the countries where it operates. This commitment is founded in the group’s goals to achieve profitability and sustained growth.
"It is in our attainment of profitability that the group can establish the required mutually beneficial relationships with all stakeholders,” says Santie Botha, executive director, MTN Group
MTN’s quest to balance social and community policies with sustainable economic and environmental practices against the need to make a healthy return for its shareholders, has resulted in the inclusion of the company on the JSE Socially Responsible Investment (SRI) Index, which recently commenced trading, Botha adds.
The SRI Index is said to be the first of its kind in an emerging market, and has its basis on the three pillars of the triple bottom line - economic, environmental and social sustainability - with the principles of corporate governance common to all three elements.