SENS Note - 19 August 2010
MTN interim results June 2010
 
Revenue declined by 2.2% to R56 billion (R57.3 billion). The EBITDA margin showed a 0.5% marginal improvement to 43.3%. Net attributable profit increased by 6.1% to R8.1 billion (R7.6 billion). In addition, headline earnings on a per share basis grew to 432.1cps (415.5cps).

Dividend
An ordinary interim dividend of 151cps has been declared.

Outlook
As set out in the announcement of 15 July 2010, the board will continue to evaluate and consider value accretive opportunities going forward. However, due to the limited number of such opportunities, the board is confident that growth aspirations can be accommodated within the imperative of improved short term returns to shareholders and by increasing its focus on the following:
  • Optimising efficiencies including infrastructure sharing, standardisation of systems and processes, rationalisation of suppliers, cost management and cash optimisation;
  • Monitoring infrastructure investments to ensure appropriate levels of capacity and quality of service, incorporating continued investment in fibre and cable requirements to service evolving voice and data requirements;
  • Continued engagement with regulatory authorities in the development and refinement of the telecommunications sector in its markets;
  • Evaluating options to further improve cash returns to shareholders in addition to an increased payout ratio; and
  • Conclusion of our BEE transaction announced on the 15 July 2010.

MTN is well positioned in its markets to compete within a changing competitive and regulatory landscape with a focus on cost management as pressure on the revenue line increases. MTN continues to monitor the economic development of its markets with cautious optimism.
 
Click here for original article