MTN sees improved interim earnings
Mobile operator MTN says it expects to report an improvement of at least 20% in headline earnings per share for the six-months ended June 2017.
This is compared with a headline loss per share of 271 cents and attributable loss per share of 301 cents reported in the prior comparable period.
It said that the negative performance in the prior year was mainly as a result of non-reccurring costs, including the Nigeria regulatory fine of 474 cents per share, and professional fees related to the fine of 73 cents per share.
It also recorded losses of 136 cents per share from its 51% equity interest in Nigeria Tower InterCo B.V. mainly as a result of unrealised losses on US dollar-denominated loans.
Earlier in the year, the group posted its a first-ever annual loss in its 22-year history.
MTN Group reported a marginal 0.4% rise in revenue for the year ended December 2016, to R146.89 billion, however, it also recorded a headline loss per share of 77 cents.
Shares in MTN closed a percent higher on Friday at R121.70
Read: MTN shares advance 9% despite reporting first-ever annual loss
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