MTN has issued a trading statement alerting shareholders to a big increase in earning for the six month ended 30 June 2020.
The group expects to report an increase in earnings per share (EPS) of at least 345 cents or 140%, representing EPS of greater than 592 cents for the six months ended 30 June 2020, compared with EPS of 247 cents for the corresponding six-month period ended 30 June 2019.
Headline earnings per share (HEPS) is expected to be at least 195 cents or 100% higher, representing HEPS of greater than 390 cents for the six months ended 30 June 2020, compared with HEPS of 195 cents for the corresponding six-month period ended 30 June 2019.
EPS includes the benefit from gains amounting to 341 cents on the disposal of the ATC Uganda and ATC Ghana tower joint ventures as announced in March 2020. HEPS benefited from non-operational items for the six months ended 30 June 2020 totaling approximately 50 cents per share (June 2019: 55 cents negative impact on HEPS) of which more than half related to foreign exchange gains.