Mobile group MTN says that it expects to report a massive increase in earnings for 2018 financial year.<\/p>\n
The group said that it is currently in the process of finalising its results for the 12 months ended 31 December 2018, which will be announced on 7 March 2019.<\/p>\n
The group advices shareholders that MTN expects to report growth in full year headline earnings per share of between 80% and 90%, and growth in basic earnings per share of between 95% and 100%.<\/p>\n
“Considering the HEPS of 182 cents and EPS of 246 cents for the prior financial year this translates into a range for HEPS of 328 cents to 346 cents and for EPS of 480 cents to 492 cents,” it said.<\/p>\n
According to the group, HEPS were impacted by a number of once-off and non-cash items totalling approximately 220 cents per share in the financial year ended 31 December 2018.<\/p>\n
The adjustments for the year include costs related to the Nigerian regulatory fine, hyperinflation adjustments, net foreign exchange losses and the resolution payment to the Central Bank of Nigeria.<\/p>\n
The results for 2018 were also impacted by the stronger rand and weaker currencies in the group\u2019s foreign entities, it said.<\/p>\n
“Post year end and following the resolution of the dispute with the CBN, MTN Nigeria has resumed dividend payments to its shareholders.<\/p>\n
“The financial information on which this trading statement is based has not been reviewed and reported on by the external auditors of MTN,” it said.<\/p>\n