MTN Group’s subscriber base increase 2 per cent in Q1

MTN Group Ltd. said Tuesday it increased its subscriber base by 2% in the first four months of 2014 ended April 30, boosted by a strong uptake by MTN Nigeria which added 1.1 million new users.

The South Africa-based multinational mobile telecommunications company formerly known as M-Cell, added that the combined group achieved double digit revenue growth, in rand terms, in the period.

Earnings before interest, tax, depreciation and amortization margin improved against the first four months of 2013 and the 2013 full year margin, mainly due to cost cutting measures MTN said.