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