Nigeria operations weigh on MTN FY earnings
JSE-listed MTN this week said it expected a drop of at least 20% in its earnings for the year to December 31, owing to an operational underperformance in Nigeria on the back of subscriber disconnections and withholding of regulatory services, besides others.
The expected 307c reduction in headline earnings per share (HEPS), from the R15.36 a share posted in the prior year, emerged as MTN continued discussions with the Nigerian authorities around the final quantum of a fine incurred for failing to disconnect users of unregistered SIM cards.
In October last year, the Nigerian Communications Commission imposed a $5.2-billion fine on MTN Nigeria, but later reduced the fine to $3.4-billion.
“Notwithstanding the uncertainty of the outcome of the various engagements relating to the fine, shareholders are advised that, excluding the fine, the company is expecting to report a decrease of at least 20% in HEPS,” MTN said in an update to shareholders.
MTN would publish its final results on March 3.
The company's shares on the JSE fell by as much as 16% in early trade on Friday.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation