MTN expects big jump in earnings

MTN expects big jump in earnings

MTN Group expects to report an increase in earnings per share of at least R3.45, or 140%, in the six months to the end of June 2020.

That means EPS will be at least R5.92 for the period, compared to R2.47 in the same period last year.

Headline EPS is expected to be at least R1.95, or 100% higher, representing Heps of over R3.90, compared to R1.95 a year ago.

The EPS forecast includes the benefit from gains amounting to R3.41 on the disposal of the ATC Uganda and ATC Ghana tower joint ventures announced in March, MTN said. Heps benefited from non-operational items totalling about 50c/share, of which more than half related to foreign exchange gains.

MTN is expected to publish its interim results on 6 August.