The Leading telecommunication company, MTN Ghana increased their profits in 2019 with a whopping GH1 Billion.
Citibusinessnews.com reports that, the company made about 33.56% higher compared to the 754.67 million cedis recorded in the preceding year [2018].
MTN Ghana has attributed their increased profit to the improvement in active data users, growth in smart phones and an increase in data usage.
MTN’s total revenue for 2019 increased by 22.82%; it reached 5.18 billion cedis up from the 4.2 billion cedis.
This services included non-core activities like the sale of sim cards and mobile devices, recorded 5.15 billion cedis in 2019, up from the 4.19 billion cedis recorded in the year before.
Meanwhile, the revenue accrued from the sale of sim cards and mobile devices increased by 35 percent to record 33.7 million cedis between 2018 and 2019.
The figure witnessed an increase of 18.2 million cedis representing 33.75 percent in 2019 compared to the estimated 54 million cedis the telecoms company paid in 2018.
For 2019, shareholders of MTN are expected to benefit from a dividend of 6 pesewas per share.
