New Street: MTN (Buy, TP: ZAR145, +2%) MTN Q321: Strong quarter, and leverage falling again
MTN has reported another strong set of results with local FX revenue growth of +18%, and EBITDA growth of +24%. Both the Nigerian and Ghanian business units had already reported, with the focus being mainly on SA and group leverage.
MTN Group is a holding company engaged in the investment in the telecommunications industry offering voice services via 2G and 3G networks, including prepaid and postpaid airtime, please-call-me message service, international roaming, electronic voucher distribution services and community payphones, mobile and fixed data products, including short message service (SMS), multimedia message services, internet access, MTN MobileMoney, content portal MTN Play, Google SMS information services, USSD services and corporate data services. Co.'s operations are divided into the following three regions: South and East Africa, West and Central Africa, and the Middle East and North Africa.
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