JSE-listed telecommunications group MTN is expecting a solid improvement in headline earnings in the six months ended 30 June 2013, helped along by a sharp fall in the value of the rand.

The group told shareholders on Thursday morning that it expects headline earnings per to rise by between 20% and 25% compared to the same period a year ago. The JSE requires listed companies to tell shareholders in a trading statement when they expect their earnings will differ by at least 20% from those of the corresponding period.

MTN said headline earnings have been positively affected by foreign exchange gains of about R1bn. This compares to exchange losses of about R1,5bn in the prior year.

It said it expects to publish its interim results for the six-month period on 14 August. The share was trading up marginally in morning trading on the JSE at R186,50/share. — (c) 2013 NewsCentral Media