MTN Nigeria investors are advised to hold off stock buying

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lMTN Nigeria has released its consolidated and separate financial statements for the year ended 31 December 2018.

The company’s revenue grew by 17% when compared to 2017.MTN Nigeria‘s revenue grew from N887.1 billion in FY 2017 to N1 trillion in FY 2018, indicating a 17% increase year on year.

The company’s operating profit grew by 36% to N266.1 billion in 2018, up from N195.9 billion in 2017.

Meanwhile, the company grew its spending on Advertisements, sponsorships and sales promotions to N16.2 billion, having spent N15.5 billion in 2017.

Recommendations has been placed on MTN Nigeria‘s shares, advising investors to exercise patience until more information is made available to the public regarding the investigation of Economic and Financial Crimes Commission (EFCC), Securities and Exchange Commission (SEC)  into the company’s listing activities.