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Kcell sees high single-digit annual revenue growth amid improved performance in Q3
StockMarketWire.com
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Mobile telecommunications services provider Kcell said earnings had increased in the third quarter as higher subscribers and strong device sales boosted performance.
In the January to September period, earnings before interest taxes, depreciation, and amortisation, or EBITDA, excluding non-recurring items, increased by 12.9%0 to KZT 20,508 million, as sales increased by 13.9% to KZT 46,828 million.
Service revenue decreased by 1.0 percent to KZT 35,841 million, while service revenue excluding off-net bulk SMS was up 1.9%.
The rise in overall revenue resulted from 'strong device sales and an underlying increase in service revenue, driven by a rise in subscribers for our innovative, high quality tariff plans,' the company said.
Looking ahead, the company said it was now able to provide an outlook for 2020 of high single-digit growth in both revenue and EBITDA.
Story provided by StockMarketWire.com
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