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AIICO assures investors of good returns on shares

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AIICO assures investors of good returns on shares

March 25, 2006

 

 

 

<p style="text-align: justify;"><span style="color: rgb(153, 153, 153);"><span style="font-size: x-small;"><span style="font-family: Verdana;"><em>March 25, 2006<br />
</em></span></span></span></p>
<p style="text-align: justify;"><span style="color: rgb(153, 153, 153);"><span style="font-size: x-small;"><span style="font-family: Verdana;"><em><br />
</em></span></span></span></p>
<p style="text-align: justify;">&nbsp;</p>
<p>&nbsp;</p>
<p style="text-align: justify;"><span style="font-size: small;"><span style="font-family: Verdana;">&lt;p style=&quot;text-align: justify;&quot;&gt;&lt;em&gt;&lt;span style=&quot;color: rgb(192, 192, 192);&quot;&gt;&lt;span style=&quot;font-size: x-small;&quot;&gt;&lt;span style=&quot;font-family: Verdana;&quot;&gt;march 25, 2006 00:51:00/thisday &lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/em&gt;&lt;/p&gt;<br />
&lt;p style=&quot;text-align: justify;&quot;&gt;&lt;br /&gt;<br />
&lt;br /&gt;<br />
&lt;span style=&quot;font-size: small;&quot;&gt;&lt;span style=&quot;font-family: Verdana;&quot;&gt;Mobile Teleco-mmunications </span></span></p>
<p style="text-align: justify;">&nbsp;</p>
<p style="text-align: justify;"><span style="font-size: small;"><span style="font-family: Verdana;">Networks (MTN) On Thursday in South Africa announced the Group&amp;Atilde;&amp;fnof;&amp;AElig;&amp;rsquo;&amp;Atilde;&amp;dagger;&amp;acirc;&amp;euro;&amp;trade;&amp;Atilde;&amp;fnof;&amp;acirc;&amp;euro; &amp;Atilde;&amp;cent;&amp;acirc;&amp;sbquo;&amp;not;&amp;acirc;&amp;bdquo;&amp;cent;&amp;Atilde;&amp;fnof;&amp;AElig;&amp;rsquo;&amp;Atilde;&amp;cent;&amp;acirc;&amp;sbquo;&amp;not;&amp;Aring;&amp;iexcl;&amp;Atilde;&amp;fnof;&amp;acirc;&amp;euro;&amp;scaron;&amp;Atilde;&amp;sbquo;&amp;Acirc;&amp;cent;&amp;Atilde;&amp;fnof;&amp;AElig;&amp;rsquo;&amp;Atilde;&amp;dagger;&amp;acirc;&amp;euro;&amp;trade;&amp;Atilde;&amp;fnof;&amp;acirc;&amp;euro;&amp;scaron;&amp;Atilde;&amp;sbquo;&amp;Acirc;&amp;cent;&amp;Atilde;&amp;fnof;&amp;AElig;&amp;rsquo;&amp;Atilde;&amp;sbquo;&amp;Acirc;&amp;cent;&amp;Atilde;&amp;fnof;&amp;Acirc;&amp;cent;&amp;Atilde;&amp;cent;&amp;acirc;&amp;sbquo;&amp;not;&amp;Aring;&amp;iexcl;&amp;Atilde;&amp;sbquo;&amp;Acirc;&amp;not;&amp;Atilde;&amp;fnof;&amp;acirc;&amp;euro;&amp;brvbar;&amp;Atilde;&amp;sbquo;&amp;Acirc;&amp;iexcl;&amp;Atilde;&amp;fnof;&amp;AElig;&amp;rsquo;&amp;Atilde;&amp;cent;&amp;acirc;&amp;sbquo;&amp;not;&amp;Aring;&amp;iexcl;&amp;Atilde;&amp;fnof;&amp;acirc;&amp;euro;&amp;scaron;&amp;Atilde;&amp;sbquo;&amp;Acirc;&amp;not;&amp;Atilde;&amp;fnof;&amp;AElig;&amp;rsquo;&amp;Atilde;&amp;dagger;&amp;acirc;&amp;euro;&amp;trade;&amp;Atilde;&amp;fnof;&amp;acirc;&amp;euro;&amp;scaron;&amp;Atilde;&amp;sbquo;&amp;Acirc;&amp;cent;&amp;Atilde;&amp;fnof;&amp;AElig;&amp;rsquo;&amp;Atilde;&amp;sbquo;&amp;Acirc;&amp;cent;&amp;Atilde;&amp;fnof;&amp;Acirc;&amp;cent;&amp;Atilde;&amp;cent;&amp;acirc;&amp;sbquo;&amp;not;&amp;Aring;&amp;iexcl;&amp;Atilde;&amp;sbquo;&amp;Acirc;&amp;not;&amp;Atilde;&amp;fnof;&amp;acirc;&amp;euro;&amp;brvbar;&amp;Atilde;&amp;sbquo;&amp;Acirc;&amp;frac34;&amp;Atilde;&amp;fnof;&amp;AElig;&amp;rsquo;&amp;Atilde;&amp;cent;&amp;acirc;&amp;sbquo;&amp;not;&amp;Aring;&amp;iexcl;&amp;Atilde;&amp;fnof;&amp;acirc;&amp;euro;&amp;scaron;&amp;Atilde;&amp;sbquo;&amp;Acirc;&amp;cent;s financial results with MTN Nigeria making a revenue of $N177.8 Billion ($1.4Bn). The results were described by analysts as record breaking.&lt;br /&gt;<br />
&lt;br /&gt;<br />
&lt;br /&gt;<br />
</span></span></p>
<p style="text-align: justify;">&nbsp;</p>
<p style="text-align: justify;"><span style="font-size: small;"><span style="font-family: Verdana;">The earnings were based on a subscriber base of 8 million, which translates to 47 percent of the Nigerian telecom market.&lt;br /&gt;<br />
&lt;br /&gt;<br />
&lt;br /&gt;<br />
In the highlights anno-unced, MTN said its </span></span></p>
<p style="text-align: justify;">&nbsp;</p>
<p style="text-align: justify;"><span style="font-size: small;"><span style="font-family: Verdana;">Nigeria&amp;Atilde;&amp;fnof;&amp;AElig;&amp;rsquo;&amp;Atilde;&amp;dagger;&amp;acirc;&amp;euro;&amp;trade;&amp;Atilde;&amp;fnof;&amp;acirc;&amp;euro; &amp;Atilde;&amp;cent;&amp;acirc;&amp;sbquo;&amp;not;&amp;acirc;&amp;bdquo;&amp;cent;&amp;Atilde;&amp;fnof;&amp;AElig;&amp;rsquo;&amp;Atilde;&amp;cent;&amp;acirc;&amp;sbquo;&amp;not;&amp;Aring;&amp;iexcl;&amp;Atilde;&amp;fnof;&amp;acirc;&amp;euro;&amp;scaron;&amp;Atilde;&amp;sbquo;&amp;Acirc;&amp;cent;&amp;Atilde;&amp;fnof;&amp;AElig;&amp;rsquo;&amp;Atilde;&amp;dagger;&amp;acirc;&amp;euro;&amp;trade;&amp;Atilde;&amp;fnof;&amp;acirc;&amp;euro;&amp;scaron;&amp;Atilde;&amp;sbquo;&amp;Acirc;&amp;cent;&amp;Atilde;&amp;fnof;&amp;AElig;&amp;rsquo;&amp;Atilde;&amp;sbquo;&amp;Acirc;&amp;cent;&amp;Atilde;&amp;fnof;&amp;Acirc;&amp;cent;&amp;Atilde;&amp;cent;&amp;acirc;&amp;sbquo;&amp;not;&amp;Aring;&amp;iexcl;&amp;Atilde;&amp;sbquo;&amp;Acirc;&amp;not;&amp;Atilde;&amp;fnof;&amp;acirc;&amp;euro;&amp;brvbar;&amp;Atilde;&amp;sbquo;&amp;Acirc;&amp;iexcl;&amp;Atilde;&amp;fnof;&amp;AElig;&amp;rsquo;&amp;Atilde;&amp;cent;&amp;acirc;&amp;sbquo;&amp;not;&amp;Aring;&amp;iexcl;&amp;Atilde;&amp;fnof;&amp;acirc;&amp;euro;&amp;scaron;&amp;Atilde;&amp;sbquo;&amp;Acirc;&amp;not;&amp;Atilde;&amp;fnof;&amp;AElig;&amp;rsquo;&amp;Atilde;&amp;dagger;&amp;acirc;&amp;euro;&amp;trade;&amp;Atilde;&amp;fnof;&amp;acirc;&amp;euro;&amp;scaron;&amp;Atilde;&amp;sbquo;&amp;Acirc;&amp;cent;&amp;Atilde;&amp;fnof;&amp;AElig;&amp;rsquo;&amp;Atilde;&amp;sbquo;&amp;Acirc;&amp;cent;&amp;Atilde;&amp;fnof;&amp;Acirc;&amp;cent;&amp;Atilde;&amp;cent;&amp;acirc;&amp;sbquo;&amp;not;&amp;Aring;&amp;iexcl;&amp;Atilde;&amp;sbquo;&amp;Acirc;&amp;not;&amp;Atilde;&amp;fnof;&amp;acirc;&amp;euro;&amp;brvbar;&amp;Atilde;&amp;sbquo;&amp;Acirc;&amp;frac34;&amp;Atilde;&amp;fnof;&amp;AElig;&amp;rsquo;&amp;Atilde;&amp;cent;&amp;acirc;&amp;sbquo;&amp;not;&amp;Aring;&amp;iexcl;&amp;Atilde;&amp;fnof;&amp;acirc;&amp;euro;&amp;scaron;&amp;Atilde;&amp;sbquo;&amp;Acirc;&amp;cent;s subsidiary is operating under an economy that is performing well.&lt;br /&gt;<br />
&lt;br /&gt;<br />
&lt;br /&gt;<br />
</span></span></p>
<p style="text-align: justify;">&nbsp;</p>
<p style="text-align: justify;"><span style="font-size: small;"><span style="font-family: Verdana;">The company said it deployed 2,211km of optic fibre cables for the transmission of its traffic during the year and that it is now well positioned for the unified licencing regime which is expected to start anytime soon.&lt;br /&gt;<br />
MTN also said it was still in court protesting the interconnect tariff intervention by the NCC in 2004 even as the Commission looks poised to make yet another intervention.&lt;br /&gt;<br />
&lt;br /&gt;<br />
&lt;br /&gt;<br />
</span></span></p>
<p style="text-align: justify;">&nbsp;</p>
<p style="text-align: justify;"><span style="font-size: small;"><span style="font-family: Verdana;">The company, which is 77 percent owned by the South Africa parent company, said it is still seeking to broaden its shareholders&amp;Atilde;&amp;fnof;&amp;AElig;&amp;rsquo;&amp;Atilde;&amp;dagger;&amp;acirc;&amp;euro;&amp;trade;&amp;Atilde;&amp;fnof;&amp;acirc;&amp;euro; &amp;Atilde;&amp;cent;&amp;acirc;&amp;sbquo;&amp;not;&amp;acirc;&amp;bdquo;&amp;cent;&amp;Atilde;&amp;fnof;&amp;AElig;&amp;rsquo;&amp;Atilde;&amp;cent;&amp;acirc;&amp;sbquo;&amp;not;&amp;Aring;&amp;iexcl;&amp;Atilde;&amp;fnof;&amp;acirc;&amp;euro;&amp;scaron;&amp;Atilde;&amp;sbquo;&amp;Acirc;&amp;cent;&amp;Atilde;&amp;fnof;&amp;AElig;&amp;rsquo;&amp;Atilde;&amp;dagger;&amp;acirc;&amp;euro;&amp;trade;&amp;Atilde;&amp;fnof;&amp;acirc;&amp;euro;&amp;scaron;&amp;Atilde;&amp;sbquo;&amp;Acirc;&amp;cent;&amp;Atilde;&amp;fnof;&amp;AElig;&amp;rsquo;&amp;Atilde;&amp;sbquo;&amp;Acirc;&amp;cent;&amp;Atilde;&amp;fnof;&amp;Acirc;&amp;cent;&amp;Atilde;&amp;cent;&amp;acirc;&amp;sbquo;&amp;not;&amp;Aring;&amp;iexcl;&amp;Atilde;&amp;sbquo;&amp;Acirc;&amp;not;&amp;Atilde;&amp;fnof;&amp;acirc;&amp;euro;&amp;brvbar;&amp;Atilde;&amp;sbquo;&amp;Acirc;&amp;iexcl;&amp;Atilde;&amp;fnof;&amp;AElig;&amp;rsquo;&amp;Atilde;&amp;cent;&amp;acirc;&amp;sbquo;&amp;not;&amp;Aring;&amp;iexcl;&amp;Atilde;&amp;fnof;&amp;acirc;&amp;euro;&amp;scaron;&amp;Atilde;&amp;sbquo;&amp;Acirc;&amp;not;&amp;Atilde;&amp;fnof;&amp;AElig;&amp;rsquo;&amp;Atilde;&amp;dagger;&amp;acirc;&amp;euro;&amp;trade;&amp;Atilde;&amp;fnof;&amp;acirc;&amp;euro;&amp;scaron;&amp;Atilde;&amp;sbquo;&amp;Acirc;&amp;cent;&amp;Atilde;&amp;fnof;&amp;AElig;&amp;rsquo;&amp;Atilde;&amp;sbquo;&amp;Acirc;&amp;cent;&amp;Atilde;&amp;fnof;&amp;Acirc;&amp;cent;&amp;Atilde;&amp;cent;&amp;acirc;&amp;sbquo;&amp;not;&amp;Aring;&amp;iexcl;&amp;Atilde;&amp;sbquo;&amp;Acirc;&amp;not;&amp;Atilde;&amp;fnof;&amp;acirc;&amp;euro;&amp;brvbar;&amp;Atilde;&amp;sbquo;&amp;Acirc;&amp;frac34;&amp;Atilde;&amp;fnof;&amp;AElig;&amp;rsquo;&amp;Atilde;&amp;cent;&amp;acirc;&amp;sbquo;&amp;not;&amp;Aring;&amp;iexcl;&amp;Atilde;&amp;fnof;&amp;acirc;&amp;euro;&amp;scaron;&amp;Atilde;&amp;sbquo;&amp;Acirc;&amp;cent; base.&lt;br /&gt;<br />
&lt;br /&gt;<br />
&lt;br /&gt;<br />
</span></span></p>
<p style="text-align: justify;">&nbsp;</p>
<p style="text-align: justify;"><span style="font-size: small;"><span style="font-family: Verdana;">The company also disclosed that the Average Revenue Per User (ARPU) was stable for 6 months despite strong subscriber acquisition, even at it noted that tariff pressure in re-seller market has eased. It also disclosed that its recently introduced e-charge made a penetration of 8 percent.&lt;br /&gt;<br />
&lt;br /&gt;<br />
&lt;br /&gt;<br />
</span></span></p>
<p style="text-align: justify;">&nbsp;</p>
<p style="text-align: justify;"><span style="font-size: small;"><span style="font-family: Verdana;">MTN said that during the period it launched GPRS, MMS and MVPN.&lt;br /&gt;<br />
&lt;br /&gt;<br />
&lt;br /&gt;<br />
According to the operator, it now has 2120 base stations out of the planned 4000 base stations in Nigeria. It has 33 switches and is continuing in the deployment of its transmission backbone.&lt;br /&gt;<br />
&lt;br /&gt;<br />
&lt;br /&gt;<br />
</span></span></p>
<p style="text-align: justify;">&nbsp;</p>
<p style="text-align: justify;"><span style="font-size: small;"><span style="font-family: Verdana;">The Group which company is changing its year-end to December 31 from March 31 said it expected a further increase in subscribers in South Africa to 12.3 million by the end of 2006.&lt;br /&gt;<br />
&lt;br /&gt;<br />
&lt;br /&gt;<br />
</span></span></p>
<p style="text-align: justify;">&nbsp;</p>
<p style="text-align: justify;"><span style="font-size: small;"><span style="font-family: Verdana;">In Nigeria, MTN is expecting increase in subscribers base to 11.8 million and a further 1.5 million from its new Iran business, set for launching in August.&lt;br /&gt;<br />
&lt;br /&gt;<br />
&lt;br /&gt;<br />
</span></span></p>
<p style="text-align: justify;">&nbsp;</p>
<p style="text-align: justify;"><span style="font-size: small;"><span style="font-family: Verdana;">There is concern over the Group&amp;Atilde;&amp;fnof;&amp;AElig;&amp;rsquo;&amp;Atilde;&amp;dagger;&amp;acirc;&amp;euro;&amp;trade;&amp;Atilde;&amp;fnof;&amp;acirc;&amp;euro; &amp;Atilde;&amp;cent;&amp;acirc;&amp;sbquo;&amp;not;&amp;acirc;&amp;bdquo;&amp;cent;&amp;Atilde;&amp;fnof;&amp;AElig;&amp;rsquo;&amp;Atilde;&amp;cent;&amp;acirc;&amp;sbquo;&amp;not;&amp;Aring;&amp;iexcl;&amp;Atilde;&amp;fnof;&amp;acirc;&amp;euro;&amp;scaron;&amp;Atilde;&amp;sbquo;&amp;Acirc;&amp;cent;&amp;Atilde;&amp;fnof;&amp;AElig;&amp;rsquo;&amp;Atilde;&amp;dagger;&amp;acirc;&amp;euro;&amp;trade;&amp;Atilde;&amp;fnof;&amp;acirc;&amp;euro;&amp;scaron;&amp;Atilde;&amp;sbquo;&amp;Acirc;&amp;cent;&amp;Atilde;&amp;fnof;&amp;AElig;&amp;rsquo;&amp;Atilde;&amp;sbquo;&amp;Acirc;&amp;cent;&amp;Atilde;&amp;fnof;&amp;Acirc;&amp;cent;&amp;Atilde;&amp;cent;&amp;acirc;&amp;sbquo;&amp;not;&amp;Aring;&amp;iexcl;&amp;Atilde;&amp;sbquo;&amp;Acirc;&amp;not;&amp;Atilde;&amp;fnof;&amp;acirc;&amp;euro;&amp;brvbar;&amp;Atilde;&amp;sbquo;&amp;Acirc;&amp;iexcl;&amp;Atilde;&amp;fnof;&amp;AElig;&amp;rsquo;&amp;Atilde;&amp;cent;&amp;acirc;&amp;sbquo;&amp;not;&amp;Aring;&amp;iexcl;&amp;Atilde;&amp;fnof;&amp;acirc;&amp;euro;&amp;scaron;&amp;Atilde;&amp;sbquo;&amp;Acirc;&amp;not;&amp;Atilde;&amp;fnof;&amp;AElig;&amp;rsquo;&amp;Atilde;&amp;dagger;&amp;acirc;&amp;euro;&amp;trade;&amp;Atilde;&amp;fnof;&amp;acirc;&amp;euro;&amp;scaron;&amp;Atilde;&amp;sbquo;&amp;Acirc;&amp;cent;&amp;Atilde;&amp;fnof;&amp;AElig;&amp;rsquo;&amp;Atilde;&amp;sbquo;&amp;Acirc;&amp;cent;&amp;Atilde;&amp;fnof;&amp;Acirc;&amp;cent;&amp;Atilde;&amp;cent;&amp;acirc;&amp;sbquo;&amp;not;&amp;Aring;&amp;iexcl;&amp;Atilde;&amp;sbquo;&amp;Acirc;&amp;not;&amp;Atilde;&amp;fnof;&amp;acirc;&amp;euro;&amp;brvbar;&amp;Atilde;&amp;sbquo;&amp;Acirc;&amp;frac34;&amp;Atilde;&amp;fnof;&amp;AElig;&amp;rsquo;&amp;Atilde;&amp;cent;&amp;acirc;&amp;sbquo;&amp;not;&amp;Aring;&amp;iexcl;&amp;Atilde;&amp;fnof;&amp;acirc;&amp;euro;&amp;scaron;&amp;Atilde;&amp;sbquo;&amp;Acirc;&amp;cent;s Iranian operations as it cited the threat of sanctions against Iran as a challenge that could limit imports of equipment and software and make it difficult to secure funding from international markets.&lt;br /&gt;<br />
&lt;br /&gt;<br />
&lt;br /&gt;<br />
</span></span></p>
<p style="text-align: justify;">&nbsp;</p>
<p style="text-align: justify;"><span style="font-size: small;"><span style="font-family: Verdana;">The Groups Chief Executive Officer Phuthuma Nhleko was quoted as saying: \&amp;quot;The honest truth is we haven\'t budgeted for bomb shelters, because we generally take a far more positive view of life,\&amp;quot;&lt;br /&gt;<br />
&lt;br /&gt;<br />
</span></span></p>
<p style="text-align: justify;">&nbsp;</p>
<p style="text-align: justify;"><span style="font-size: small;"><span style="font-family: Verdana;">When it announced its six months results in November, MTN Nigeria made gross earnings of a little over N120 Billion. The results were for the six months ending September 30, 2005.&lt;br /&gt;<br />
&lt;br /&gt;<br />
&lt;br /&gt;<br />
</span></span></p>
<p style="text-align: justify;">&nbsp;</p>
<p style="text-align: justify;"><span style="font-size: small;"><span style="font-family: Verdana;">Commenting on the results, a telecom analyst told THISDAY that this results is record breaking as it had never been recorded by any operator anywhere especially looking at the time range, when the company started operations in Nigeria.&lt;br /&gt;<br />
&lt;br /&gt;<br />
&lt;br /&gt;<br />
</span></span></p>
<p style="text-align: justify;">&nbsp;</p>
<p style="text-align: justify;"><span style="font-size: small;"><span style="font-family: Verdana;">In the present results, as in other times, Only MTN South Africa which is losing subscribers share in the home market outperformed Nigerian operations when it grossed R15.5 Billion (about $2,3 Billion) for the nine-month period.&lt;br /&gt;<br />
&lt;br /&gt;<br />
&lt;br /&gt;<br />
MTN said it now has a total subscribers base of 23.2 million at the end of December&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;</span></span></p>



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