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MTN suffers first financial loss in 20 years

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MTN. (Duncan Alfreds, Fin24)
MTN. (Duncan Alfreds, Fin24)

Johannesburg - Mobile network MTN [JSE:MTN] said 2016 was its “most challenging” year ever as it reported its first annual loss in 20 years.

The company on Thursday reported a headline loss of R1.4bn ($108m), or 77 cents per share, for its financial year ended December 31.

This compared with headline earnings of R13.6bn, or 746c/share, a year earlier.

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