MTN expects to report improvement of at least 20% in HY 2017

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South Africa’s Mtn Group Ltd Expects to report an improvement of at least 20% in both headline earnings per share (HEPS) and earnings per share (EPS) for HY ended 30 June 2017​

* Negative performance in prior year period was due to non-reccurring costs, including Nigeria regulatory fine of 474 cps

This is compared with a headline loss per share of 271 cents and attributable loss per share of 301 cents reported in the prior comparable period.

It said that the negative performance in the prior year was mainly as a result of non-reccurring costs, including the Nigeria regulatory fine of 474 cents per share,  and professional fees related to the fine of 73 cents per share.

It also recorded losses of 136 cents per share from its 51% equity interest in Nigeria Tower InterCo B.V. mainly as a result of unrealised losses on US dollar-denominated loans.

Earlier in the year, the group posted its a first-ever annual loss in its 22-year history.

MTN Group reported a marginal 0.4% rise in revenue for the year ended December 2016, to R146.89 billion, however, it also recorded a headline loss per share of 77 cents.

Shares in MTN closed a percent higher on Friday at R121.70

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Godwin Okafor is a financial journalist, Internet Social Entrepreneur and the Founder Naija247news Media Ltd He has over 16 experiences in journalism, which cuts across traditional and digital media. He started his journalism career in Business Day, Where he was a senior editorial graphic artist, before he left to start Naija247news, An Online Financial Newspaper in 2010. He has won series of awards and he is the chairman of Emmerich Resources Limited, the publisher of Naija247news.com and also sits on the board of Students In Business Awards, (SIBA). He currently lives in Manhattan New York

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