MTN to report improved earnings

Africa’s biggest mobile-phone operator, MTN, says it expects to report an improvement of at least 20% in both headline earnings per share (HEPS) and earnings per share (EPS) for the 12-month period ended 31 December 2017, compared with a headline loss per share of 77 cents and attributable loss per share of 144 cents for the prior financial year.

The group will publish its results on the JSE on 8 March 2018.

“The negative performance in the prior comparable period was mainly as a result of non-recurring costs, including those related to the Nigerian regulatory fine and losses on MTN’s 51% equity interest in the Nigerian tower company,” it said.

“Both HEPS and EPS for the 12-month period ended 31 December 2017 are expected to be positive and a further trading statement will be issued once the company obtains a reasonable degree of certainty as to the likely range within which the HEPS and EPS are expected to be finalised,” the group said.

A year ago, the 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 ion MTN have gained momentum in recent months to R134.75 by close of play on Friday, from a low of R110 in mid June.

Read: MTN in first 5G trial in Africa with Ericsson

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MTN to report improved earnings