MTN has issued a trading statement, alerting shareholders to the likelihood of increased earnings for the six months ended 30 June 2013.
The company expects an increase of between 20% and 25% in headline earnings per share (HEPS) for the six months ended 30 June 2013 compared to the previously reported corresponding period.
The HEPS for the six month period are positively affected by foreign exchange gains of approximately R1-billion, compared to foreign exchange losses of approximately R1,5-billion in the prior year related to some of the group’s subsidiaries resulting in markedly lower net finance costs.
The group’s interim results are expected to be announced on Wednesday 14 August 2013.