oil prices

oil prices

MTN feels a pinch on its profits

12m ago
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The seven week strike at Africa's biggest mobile phone company MTN has weighed on the group's profit. MTN reported a 10.3 percent fall in half year profit. The drop in revenue is attributable to currency fluctuations. In some of MTN's 20 different countries in Africa and the Middle East. Driving revenue downwards are the decline in the Naira of Nigeria, MTN's largest market, the Rial of Iran, too. These two currencies have been battered by plunging oil prices. Diluted headline earnings per share were 654 cents compared with 727 cents a year earlier. For more News visit: http://www.sabc.co.za/news Follow us on Twitter: https://twitter.com/SABCNewsOnline?lang=en Like us on Facebook: https://www.facebook.com/SABCNewsOnline