MTN Looks Forward To Increased Headline Earnings

The telecoms giant MTN has issued a trading statement revealing that it is looking forward to a 30 percent to 50 percent increase of headline earnings per share for the year that ended in December 2019. 

MTN said that it had adopted a new financial reporting system since 1 January 2019, which it expects to result in a 13 percent downward adjustment.

This revelation comes just as MTN takes on several major projects, including the introduction of its mobile money service in South Africa in collaboration with Ubank, and the rapid deepening of its investment in Nigeria’s market by over $1,3 billion, Fin24 had previously reported.

The company said that it predicts headline earnings per share of between 438 cents and 506 cents in its 2019 results, compared with HEPS of only 337 cents for the previous financial year.

Final results would be announced next month, it said. 

The trading statement said that HEPS were impacted by various non-operational items including costs that were related to a Nigerian regulatory fine, adjustments that were brought about by hyperinflation, foreign exchange losses and the impact of divestments that were made during the year.

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