MTN expects earnings boost
MTN has advised shareholders that it expects headline earnings for the six months ended June 2013 to be between 20% and 25% higher than 536.2 cents in the previous corresponding period.
MTN reported adjusted headline earnings per share of 537.4 cents in 2012, along with a dividend per share of 321 cents, and a 72% payout ratio.
This is due to a foreign exchange gains of approximately R1.0 billion, compared to foreign exchange losses of approximately R1.5 billion in the prior year, related to some of the group’s subsidiaries resulting in markedly lower net finance costs.
In early morning trade on the JSE, shares in MTN gained R2.36 or 1.29% to R185.25 – approaching its record high of R190.89.
According to a Bloomberg report, MTN, along with SA rival Vodacom, has expressed interest in expanding into Madagascar through an acquisition of Telecom Malagasy SA.
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