Home / General / MTN Nigeria set to Declare almost $1 Billion in Profit

MTN Nigeria set to Declare almost $1 Billion in Profit

This is massive as, MTN Nigeria is set to declare about $955 million in annual profit after tax which was reveled on Tuesday by the company.

This was reported by Daily Trust first published the earnings report and MTN confirmed it in a statement.

             MTN Nigeria set to Declare alsmost $1 Billion in Profit

According to the statement released by MTN:

“Profit after tax figure for MTN Nigeria for the period ended December 31, 2015, being quoted in the press article, is 190 billion naira ($955 million), which is within the current estimates”

MTN Nigeria is Africa’s largest mobile operator was fined $3.9 billion in Nigeria for failing to disconnect users of unregistered SIM cards.

However MTN NG makes almost 37 percent of its revenue from Nigeria, has filed a court challenge over the fine, which equates to more than twice its annual average capital spending over the past five years.

However, auditing is still in the process, so this has not been finalized. Meanwhile, shares were up by 1.1 percent to 121.87 rand per share at 12:24 p.m. in JSE.

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