MTN records GHS 2bn in profit as telecom giant grows profit by 43.5% in 2021
Telecoms giant, MTN Ghana, for the year ended 2021 recorded a 43.5% growth in its net profit.
Per the telecoms giant 2021 Financial Statement, net profit at end-2021 amounted to GHS 2 billion.
Total direct and indirect taxes paid by MTN during the period under review stood at GHS 2.7 million.
MTN’s revenue went up by 28% to reach GHS 7 billion as its subscriber base increased by almost 4% from 2020 to hit 25.4 million in early 2022.
On mobile money, MTN puts the subscriber base at 11 million ending December 2021.
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In a statement issued by the company, MTN said, “We continued to focus on innovation and diligent execution of operational strategies aided by the commitment to our people. Service revenue grew by 28.5%, driven mainly by increased investment in the network and commercial initiatives which resulted in growth of our customer base and usage across our core business,” believing it had delivered sustained growth in its core business during 2021.
The Company’s Board in view of the recorded net profit for 2021, has declared an interim dividend of GHS 0.03 per share.
Following the full year performance of the company, the Board has recommended a final dividend of GHS 0.085 per share, bringing the total dividend for 2021 to GHS 0.115 per share.
This represents 70.6% of profit after tax and a 43.8% increase in dividend per share when compared to that of 2020.
