Earnings Report /
Nigeria

MTN Nigeria: H1 22 – Impressive results but inflation warning lights are flashing

  • MTNN recorded positive revenue and profit performance in H1 22, declaring NGN5.6 in interim dividend

  • Despite yoy margin expansion, Q2 numbers give us a reason to be concerned about inflationary pressure

  • We retain our Buy recommendation with a TP of NGN299 as MTNN's growth story remains intact

MTN Nigeria: H1 22 – Impressive results but inflation warning lights are flashing
Ayobami Omole
Ayobami Omole

Research Analyst

Tellimer Research
4 August 2022
Published byTellimer Research

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