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MTN publishes update

By Iain Scott, ITWeb group consulting editor
Johannesburg, 15 Mar 2006

Cellular operator MTN Group says it will report headline earnings of between 347c and 364c for the nine months to end-December 2005.

The group says it is finalising the audited results and these are expected to be released on 23 March.

There are no comparative figures for a previous corresponding period as the group is reporting on a nine-month trading period following a change in its year-end.

MTN says adjusted headline earnings will be between 328c and 357c a share.

The group`s last reported results were for the six months to end-September, when it achieved earnings of 231.3c a share, compared with 179c for the same period the previous year.

Headline earnings per share (HEPS) amounted to 234.1c, from a previous 178.6c, and adjusted HEPS of 222.5c compared with a previous 170.1c.

The adjustment takes into account the reversal of a deferred tax .

The MTN share was trading at 6 190c on the JSE at midmorning today, up 40c or 0.7% from yesterday`s close. Yesterday the share gained 135c or 2.2%.

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