May 14, 2020 / 6:04 AM / 23 days ago

S.Africa's MTN Q1 earnings rise, maintains medium-term guidance

JOHANNESBURG, May 14 (Reuters) - South Africa’s MTN Group reported higher group core earnings for the first quarter of 2020, and maintained its medium-term guidance on Thursday, bucking a corporate trend to withdraw or postpone issuing due to the coronavirus crisis.

Group service revenue for the three-months ended March 31 rose by 11.1% and earnings before interest, tax, depreciation and amortisation (EBITDA) jumped by 15.6%, the mobile operator said in a statement.

Contributing to solid group performance were MTN Nigeria and MTN Ghana, which generated strong double-digit service revenue growth. (Reporting by Nqobile Dludla; Editing by Alex Richardson)

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