Mobile group MTN says that it expects to report a massive increase in earnings for 2018 financial year.
The group said that it is currently in the process of finalising its results for the 12 months ended 31 December 2018, which will be announced on 7 March 2019.
The group advices shareholders that MTN expects to report growth in full year headline earnings per share of between 80% and 90%, and growth in basic earnings per share of between 95% and 100%.
“Considering the HEPS of 182 cents and EPS of 246 cents for the prior financial year this translates into a range for HEPS of 328 cents to 346 cents and for EPS of 480 cents to 492 cents,” it said.
According to the group, HEPS were impacted by a number of once-off and non-cash items totalling approximately 220 cents per share in the financial year ended 31 December 2018.
The adjustments for the year include costs related to the Nigerian regulatory fine, hyperinflation adjustments, net foreign exchange losses and the resolution payment to the Central Bank of Nigeria.
The results for 2018 were also impacted by the stronger rand and weaker currencies in the group’s foreign entities, it said.
“Post year end and following the resolution of the dispute with the CBN, MTN Nigeria has resumed dividend payments to its shareholders.
“The financial information on which this trading statement is based has not been reviewed and reported on by the external auditors of MTN,” it said.