MTN says it expects to report growth in headline earnings of up to 15% when it delivers its financial results for the year ended December 2014.
Africa’s largest mobile operator advised that it expects an increase of between 5% and 15% in headline earnings per share, which equates to a range of between R14.82 and R16.23 per share.
This compares with headline earnings per share of R14.11 in 2013.
It anticipates an increase of between 15% and 25% in attributable earnings per a share, equating to a range of between R16.79 and R18.25, from R14.60 in the prior period.
MTN said that the earnings per share for the 2014 financial year was positively impacted by the transaction whereby the MTN Nigeria’s passive infrastructure was transferred to an associate.
“MTN Group has retained a 51% interest in the newly created entity and MTN Nigeria will lease-back the towers for its operations,” the mobile operator said.
In September, MTN reached an agreement with IHS Holding for the transfer of its towers business, comprising of up to 9,151 mobile network towers in Nigeria.
For the year ended 2013, MTN Group reported revenue of R136.5 billion, however its SA revenue declined by 6.1% to R39.7 billion.
Shares in MTN traded R2.46 or 1.15% lower in the afternoon session on the JSE on Thursday (19 February), to R210.94, giving the group a market cap of R383.6 billion.
MTN expects to publish its financial results on Wednesday, 4 March 2015.