MTN NIGERIA COMMUNICATIONS PLC FY’23 Earnings Release – Topline maintains growth trajectory

Analyst: Victoria Ejugwu* v.ejugwu@vetiva.com Target price: ₦254.86 Rating: BUY MTNN’s full year performance came in mixed, as the company reported strong growth in topline but saw earnings wiped out, as foreign exchange losses mounted. For the fourth quarter, the company reported a 25% y/y increase in revenue to ₦695 billion, driven by growth in data…

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