The tough economic environment appears to be taking its toll on mobile giant MTN as its key markets face headwinds.
Africa’s largest operator says its half-year profit dropped 7 percent as tough economic conditions bite.
The mobile phone firm, which is valued at R208-billion, reported that headline earnings per share dropped to 215 cents a share in the six months to end-June.
MTN says its earnings were impacted by hyperinflation in Iran, interest on its Nigerian fine and foreign exchange losses.
The latest round of sanctions by the US on Iran will also likely impact the company going forward.
Source: News24
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