MTN Uganda Reports 21.2% Profit Rise in Nine Months

MTN Uganda has reported a 21.2 percent increase in net profit to Sh18.2 billion during the nine months ending in September. This growth was attributed to the absence of a tax payment of Ush111 billion, which was settled in the previous year.

The telco, which is listed on the Uganda Securities Exchange, noted that its net profit was Sh15 billion in the corresponding period of the prior year. The company also highlighted an improvement in its net profit margin, which rose by two percentage points to 19.8 percent.

In addition to its profit growth, MTN Uganda has also announced an increase in its interim dividend, reflecting its strong financial performance.