MTN expects earnings hike

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Mobile operator MTN says that earnings could rise by as much as 35% in a trading statement for the year ended December 2021.

272 million customers in 20 markets largely in Africa and the Middle East, said it anticipates aConsidering the HEPS of 749 cents for the corresponding financial year ended December 2020, this translates into a range of 936 cents to 1,011 cents for the year ended December 2021.

Included in HEPS are the negative impacts of a number of non-operational and once-off items with a net total of approximately 123 cents , it said. These include items largely relating to hyperinflation excluding impairments ; foreign exchange losses ; other non-operational items and notable donations related to Covid-19 support for the Africa Centre for Disease Control andMTN said it expects to report a decrease in earnings per share of between 15% and 25% . This translates into a range of 710 cents to 804 cents for the year ended December 2021.

EPS includes impairment losses of approximately 64 cents that relate mainly to MTN Yemen, largely non-cash losses from the deconsolidation of subsidiary MTN Syria of approximately 262 cents, and fair value gains on acquisition or disposal totalling 99 cents.

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