MTN Nigeria Communications Plc has reported a stellar half-year performance for the period ended June 30, 2026, posting a 70.6 per cent surge in profit after tax to N707.5 billion and earnings per share of N33.7.

In the Financial results for the half year ended June 30, 2026, released, Thursday, MTN service revenue climbed 25.9 per cent to N3.0 trillion, driven by robust growth in data and voice services, while EBITDA rose 39.2 per cent to N1.7 trillion, expanding margins to 55.9 per cent.

The telecom giant added 4.9 million new subscribers, bringing its base to 92.2 million, with active data users rising to 55.7 million. Free cash flow jumped 73.9 per cent to N712.7 billion, underscoring strong operational efficiency and disciplined capital allocation.

MTN Nigeria Chief Executive Officer, Karl Toriola, described the results as evidence of “sustained commercial momentum, improved profitability and robust cash generation,” noting that a stronger naira and disciplined cost management helped offset energy-related pressures. The Board approved an interim dividend of ₦26 per share, payable on September 7, 2026.

Despite a temporary dip in fintech revenue due to the suspension of airtime and data credit services, MTN’s mobile money wallets surged 88.8 per cent to five million, reinforcing long-term growth prospects. The company invested N620.5 billion in capex to strengthen its network and expand home broadband, while contributing N622.6 billion in taxes and levies to the government.

Looking ahead, MTN Nigeria reaffirmed its guidance of low-20 P per cent service revenue growth and EBITDA margins in the mid-to-high 50 per cent range, as it accelerates broadband rollout, fintech expansion, and digital inclusion initiatives.

“We enter the second half with confidence in Nigeria’s long-term structural growth opportunity, underpinned by rising data demand, further headroom for smartphone adoption, underpenetrated home broadband, accelerating enterprise digitalisation and the long-term potential of fintechfintech as execution improves.

“We remain focused on disciplined execution and strategic investment to sustain our market leadership. We will continue to invest in expanding network capacity, coverage and platform capabilities to meet the growing demand for connectivity and digital services, while maintaining a disciplined approach to capital allocation and returns. These investments are designed to strengthen customer experience, support long-term growth and reinforce our competitive position in an increasingly digital economy,” Toriola noted.