May 3, 2018 / 8:53 AM / 2 months ago

South Africa's MTN first-quarter revenue rises nine percent, shares jump

JOHANNESBURG (Reuters) - South African telecoms firm MTN Group reported on Thursday a 9.1 percent rise in its revenue for the quarter to the end of March, sending its shares five percent higher.

A shopper walks past an MTN shop at a mall in Johannesburg, South Africa, March 2, 2017. REUTERS/Siphiwe Sibeko

Revenue at Africa’s biggest telecoms firm increased due to growth in Nigeria and Ghana, where voice revenue expanded, the company said in a statement.

MTN said its subscribers increased by 1.9 percent quarter-on-quarter with net additions of 4.1 million, while the group’s data revenue was up by 26.9 percent.

The group’s share price rose as much as 5.74 percent and later traded up 3.94 percent at 131 rand by 0813 GMT.

Reporting by Nomvelo Chalumbira; Editing by James Macharia

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