Stanbic Bank
Stanbic Bank
Stanbic Bank
Stanbic Bank
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Kampala
Stanbic Bank
Stanbic Bank
Stanbic Bank
Stanbic Bank

MTN sees marked growth in gross profit in 2023

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Local telecoms giant MTN Uganda had good business in the year 2023. According to the company’s consolidated financial statements for the year, the company realised a gross profit of about Shs706 billion compared to Shs591 billion earned in 2022.

On the other hand, the net profit for the company was Shs493 in 2023 compared to Shs406 earned in 2023.

Meanwhile, the company’s total assets moved upwards during the period under review to Shs4.68 trillion compared to Shs3.96 trillion in 2022.

The company’s directors have proposed a final dividend of Shs6.4 percent, the company having set aside Shs143.3 billion for the shareholders to take home. The company adds: “This translates to a total dividend of Shs18.0 per share (Shs403,002,796,302). This is subject to deduction of applicable withholding tax.”

The company reports mobile money deposits of Shs1.48 trillion in the year 2023 from Shs1.20 trillion in 2022.

The company further reports employee benefits of Shs135.3 billion in 2023, from Shs126.57 billion in 2022.

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