Companies / Namibia
MTC Namibia Posts 22% Subscriber Rise
April 2008 | Company Finance AlertMobile Telecommunications Company (MTC) of Namibia has reported a small increase in net profit for 2007, despite strong subscriber and revenue growth, as competition increased unexpectedly during the year. Total revenue grew by 18.7% in 2007 to NAD1.1bn, from NAD944mn in 2006. Pre-tax earnings grew by 3.3% to NAD587mn. However, the company's net profit grew by only 1.8% from NAD485mn in 2006 to NAD493mn in 2007, due to significant increases in staffing, sales, marketing and transmission costs.
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