MTN expects an increase of between 18.1% and 23.1% in adjusted headline earnings per share for the half-year to June, compared with the same period a year ago. Attributable earnings per share should increase between 4.8% and 9.8%, while basic headline earnings per share should be between 1.5% and 6.5% higher.
The company says the difference between basic and adjusted headline earnings per share is the reversal of the impact of the put option that a shareholder has on the MTN Nigeria operations.
Last year, MTN reported revenue up 24.2%, to R57.3 billion, headline earnings per share were up 22.5%, to 415.5c, and adjusted headline earnings per share were down 10.9%, to 363.8c. Basic earnings per share were 22.4% higher, at 409.7c.
MTN attributed the lower adjusted headline earnings per share in the first half of last year to the reversal of the put option and the impact of currency losses.
The company expects to release its results on Thursday. Its trading update, this morning, sent its shares 51c higher, to R117.01.
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