In a statement to shareholders, MTN advises it expects an increase in basic headline earnings per share (HEPS) of between 38% and 43%, for the 12-month period ended 31 December 2008.
The company also expects an increase in its adjusted HEPS of between 29% and 34%.
MTN adds that it expects its attributable earnings per share to increase by between 39% and 44%, compared to the previous period in 31 December 2007.
MTN says in the statement: “As reported on in previous periods, the major adjustments between HEPS and adjusted HEPS are the reversal of the impact of the unwind of the deferred tax asset previously raised (although there has been no movement from 30 June 2008) and the reversal of the impact of the put option which has been affected by forex movements in the second half of the year.”
According to MTN, the earnings are enhanced by the unrealised forex gains on loans to certain operations, and the actual effective tax rate is expected to be higher than originally anticipated.
MTN will release its financial results for the year on 12 March.
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