• Headline earning per share expected to grow by between 40% and 50%

  • Earnings per share expected to grow by between 195% and 205%

JSE-listed telecoms giant, Mobile Telephones Network (MTN) Group Limited expects growth in profit for the six months ended 30 June 2022.

In a trading update, MTN said it is expecting an increase in headline earnings per share (HEPS) of between 40% and 50% (or 155 cents to 194 cents) during the period under review.

“Considering the HEPS of 387 cents for the corresponding six-month period ended 30 June 2021, this translates to a range of 542 cents to 581 cents for the six months ended 30 June 2022,” the Group said.

MTN, however, highlighted that HEPS was negatively impacted by some non-operational and once-off items of approximately 94 cents which includes hyperinflation excluding impairments of 2 cents, foreign exchange losses of 88 cents and an IFRS 2 charge arising from the MTN Ghana localisation transaction of 4 cents.

An increase in earnings per share (EPS) of between 195% and 205% (or 289 cents to 303 cents) is expected during the six months and considering the EPS of 148 cents for the corresponding six-month period ended 30 June 2021, this translates to a range of 437 cents to 451 cents for the period under review.

“EPS includes impairment losses that mainly relate to goodwill totalling approximately 25 cents (2021: 73 cents), an impairment loss on re-measurement of disposal groups of 52 cents (2021: 2 cents) and a net loss on the disposal of SA towers of 45 cents (2021: 0 cents),” MTN said.

The Group’s financial results are expected to be announced on the Stock Exchange News Service of the JSE Limited on or about Thursday, 11 August 2022.

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