MTN expects interim earnings jump

Mobile operator MTN says it expects to report an increase in earnings per share of at least 345 cents or 140%, representing EPS of greater than 592 cents for the six months ended 30 June 2020.

Headline earnings per share, it said, is expected to be at least 195 cents or 100% higher, representing HEPS of greater than 390 cents for the six months ended June 2020, compared with HEPS of 195
cents in 2019.

MTN said that EPS includes the benefit from gains amounting to 341 cents on the disposal of the ATC Uganda and ATC Ghana tower joint ventures as announced in March 2020.

HEPS benefited from non-operational items for the six months ended 30 June 2020 totalling approximately 50 cents per share (June 2019: 55 cents negative impact on HEPS) of which more than half related to foreign exchange gains, it said.

Read: Vodacom reports revenue growth as more South Africans work remotely during lockdown