MTN Group has issued a further trading statement for its financial year ended 31 December 2018. The Johannesburg-based telecommunications provider said headline earnings per share are expected to rise by between 80% and 90%.
Basic earnings per share are likely to be between 95% and 100% higher, it said.
“Considering the Heps of R1.82 and EPS of R2.46 for the prior financial year, this translates into a range for Heps of R3.28 to R3.46 and for EPS of R4.80 to R4.92.”
Heps were impacted by a number of once-off and non-cash items totalling about R2.20/share in the financial year ended 31 December 2018,” it said. “The adjustments for the year include costs related to the Nigerian regulatory fine, hyperinflation adjustments, net foreign exchange losses and the resolution payment to the Central Bank of Nigeria.”
The results for 2018 were also impacted by the stronger rand and weaker currencies in the group’s foreign entities. Post-year-end and following the resolution of the dispute with the Central Bank of Nigeria, MTN Nigeria has resumed dividend payments to its shareholders.
MTN is expected to publish its annual financial results on 7 March 2019. — (c) 2019 NewsCentral Media