MTN Group (MTN) says it expects a rise of between 41.8% and 46.8% in adjusted headline earnings per share for the year ended December 2011, compared to 909.1 cents previously.
Attributable earnings per share are expected to increase by between 41.7% and 46.7%, and basic HEPS to increase by between 37.9% and 42.9%, MTN said.
It noted that prior year reported earnings included a R2.9 billion charge associated with the implementation of the MTN Zakhele scheme which had the effect of negatively impacting the prior year’s reported earnings. “If this charge is excluded, current year’s earnings growth would have been between 56% and 61% lower.
“The current year’s earnings are also positively affected by lower net finance costs,” it said.
For 2010, MTN announced a final cash dividend of 349 cents per share, following a reported revenue of R114,7 billion.
MTN expects to publish its results on Wednesday, March 7, 2012.