Cellphone operator MTN Group has noted strong subscriber growth in most of its operations, but bemoaned a strong rand as negatively affecting revenue in a number of its international operations.
The group pointed out 68% of its revenue was non-rand based.
MTN yesterday announced diluted headline earnings per share of 462.1c in interim results for the six months ended in June, from 425.9c previously.
It pointed to adjusted headline earnings per share of 470.1c, from 438.6c.
The group said its attributable earnings per share had increased by 15.9% to 509.6c.
Group revenue increased by 1% to R56.542-billion, "mainly due to growth in MTN's South African and Iranian operations of 5.9% and 12.1% respectively".
MTN announced an interim dividend of 273c per share. Subscribers increased by 7.5% since December to 152.3 million.
MTN South Africa delivered a sound performance for the period, increasing its subscriber base by 5.1% to 19.8million for the six months to end in June .
This was mainly due to growth in the prepaid segment.
At the end of June there were 4.6 million 3G devices on the network, of which 2.6 million were smartphones.
Blended average revenue per user decreased by R18.50 to R133.80 per month, mainly due to lower interconnect rates and the prepaid versus postpaid mix, the group said.
MTN said political instability in Yemen and Syria continued to create a challenging business environment.
"Trading conditions in Cote d'Ivoire have improved following disruptions in the first three months of the year.
"The dispute with Guinea-Conakry's government has been resolved," it said.
"Operations in countries affected by local political tensions continued to operate satisfactorily, with the group taking precautionary measures wherever necessary," MTN said.
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