MTN earnings dip: CEO Rob Shuter reacts

Telecoms giant MTN Group has reported a 7% decline in half-year profit for the period ended June this year. MTN attributed this to a lower contribution from associates and joint ventures.
The board has declared an interim dividend of R1,75 cents per share for the first half of the year. The company says it’s still committed to paying a R5 dividend per share for the full year, despite the challenges it faces in Iran. US-imposed sanctions on Iran posed challenges for the mobile operator’s ability to repatriate cash from MTN Irancell, including future dividends. The sanctions followed President Donald Trump’s decision to withdraw from the Iran nuclear deal earlier this year. Glorious Sefako-Musi spoke to MTN’s group CEO Rob Shuter.

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