MTN Group’s annual earnings have plummeted by 68.9% due to Nigerian currency devaluation and Sudan’s operational setbacks. Headline earnings per share fell to 98 cents, while the final dividend rose to 345 cents per share.
MTN Group, the largest telecom operator in Africa, reported a significant 68.9% decline in its annual profit due to the devaluation of the Nigerian currency and operational difficulties in Sudan. This slump resulted in a headline earnings per share drop from 315 cents in 2023 to 98 cents for the year ending December 31. Despite this decline, MTN announced a final dividend of 345 cents per share, an increase from 330 cents from the previous year.
MTN Group’s annual profit has faced a severe downturn, primarily driven by the adverse effects of currency devaluation in Nigeria and specific operational challenges in Sudan. Despite these challenges, the company has managed to increase its final dividend, reflecting a commitment to shareholder returns amidst difficulties.
Original Source: www.cnbcafrica.com
