STOCKS | MTN Group Reports Revenue Growth and Improved Profitability

MTN Group said Monday that revenue and profitability both rose in the third quarter, driven by strong demand across its markets. According to Sina Finance, revenue totaled 62.845 billion South African rand, compared with 56.86 billion rand a year earlier, while service revenue increased 17% at constant exchange rates. The group’s third-quarter EBITDA margin was 48%, up from 46% in the same period last year. MTN Group said its planned acquisition of IHS Towers remains on track and is expected to close by the end of this year. CEO Ralph Mupita said the group would focus on maintaining business growth across its markets, carrying South Africa MTN’s third-quarter momentum into the fourth quarter, returning fintech growth to its medium-term target, addressing challenges specific to MTN Uganda, and completing the IHS acquisition.