In line with our expectations
For the first three quarters of the year, revenues increased by 12.5% to reach FCFA120.937bn vs. FCFA107.499bn, a year ago. This performance was driven by the improvement of the mobile customer base. In fact, the mobile customer base continued on its growth pace (+6%) to reach 6.97 million vs. 6.57 million, yoy. However, the internet park and the broadband activity were down, respectively, by -8% and -13%. The operating income jumped by 21.21% to FCFA27.698bn vs. FCFA22.852bn by the end of September, 2015. The net profit also grew by 14.07% to FCFA17.478bn vs. FCFA15.478bn a year earlier. The operating margin reached 22.90% vs. 21.26%, yoy. The net margin jumped by 20 bps to 14.59% vs. 1.39% a year ago. Investments amounted to FCFA23.3bn, oriented mainly to the expansion of the network capacity and quality.
AlphaMena is the MENA stocks leader in independent equity research, covering 142. MENA securities spanning across 19 sectors and 8 countries relaying on a team of 11 analysts. The breadth of coverage allows AlphaMena to formulate a coherent view on markets, sectors and to highlight the best investments in Mena zone using a robust homogeneous and transparent methodology, enabling pure and pertinent comparisons based on financial and extra-financial criteria.
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