MTN expects the profit for its Nigerian operations to be about Naira 190-billion – but can’t confirm that as its year-end results are still subject to finalisation and audit sign-off.
The company was reacting to an article carried earlier this week in a Nigerian publication which contained “purported financial results of MTN Nigeria for the period ended 31 December 2015”, MTN says in a statement.
“The group is in the process of completing its audit and its financial results are yet to be finalised,” it states, adding that the amount of Naira 190-billion quoted in the article is within the current estimate but not finalised, or released by the group.
The profit comes against the backdrop of a Naira 104-trillion fine imposed by the telco in November, which was later reduced by a quarter. It’s not clear if the expected profit has made provision for this fine – which was due in December, but which MTN is contesting in court.