TNM | 2010 abridged results

By Published On: February 22nd, 2011Categories: Corporate announcement

The Directors of Telekom Networks Malawi Limited are pleased to release the abridged financial results for the year ended 31 December 2010. Below are the excerpts from the abridged report:

Key achievements in 2010

  • Increase of market share to 37% from 33%
  • Commissioned a new prepaid billing platform to support dynamic product offerings
  • More than 70 new base stations constructed
  • Affordable voice and data prepaid tariff bundles launched
  • New billing system commissioned for post paid service

Key financial highlights

  • 21% growth in revenues to MK9.930bn
  • 25% increase in EBITDA to MK3.647bn
  • EBITDA margin 37%
  • Capex additions MK5.685bn
  • Shareholders’ funds MK7.276bn
  • Earnings per share MK0.11

Review of the year

TNM is pleased to again announce good results for 2010 with high growth in Revenue and EBITDA, which was achieved as a result of the aggressive investment in infrastructure and related marketing activities. The substantial investment made in the last few years (MK4.538bn in 2009) has however increased the depreciation charge by MK571million on the enhanced fixed asset base…

Outlook

The results achieved in 2010 put the company in a strong position to consolidate the gains made in the past years, to increase its position in the market and serve the customers better in line with our mission statement. The Board and management of TNM foresee the penetration level of the country further increasing beyond 40% in the next few years…

Dividends

The directors propose a final dividend of 2 tambala per share out of the profits of the company for the year ended 31 December 2010 for declaration at the forthcoming annual general meeting. This will bring the total dividend declared in respect of the year ended 31 December 2010 to MK602.4 million (MK0.06 per share)…

Download full report on link below

The contents of the post above were obtained from third parties, which We, AfricanFinancials, believe to be reliable. However, We do not guarantee their accuracy and the above information may be in condensed form. The reader is encouraged to refer to the original source of the information, which, in most cases, is in PDF format and on the originating company's letterhead. While We endeavour to replicate the original content accurately, We cannot guarantee the absence of errors in the above article and We disclaim any liability regarding reliance on information provided in this article.

Telekom Networks Malawi Limited (TNM.mw)

Share price: 1,415.00 Tambala (0.00 | 0.00% – 22/03/23)

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