MTN to report higher year-end earnings
Telecommunications group MTN expects double-digit growth in earnings for the year ended December 31, 2020.
The telecommunications group anticipates earnings per share (EPS) to be between 886c and 987c for the year under review, a rise of between 75% and 95%, or 380c and 481c, on the 506c reported last year.
The group, which expects to publish its year-end results on March 10, said in a trading update that the EPS includes impairment losses of about 155c relating mostly to MTN Syria, MTN Yemen, MTN Guinea Bissau, MTN Liberia and BICS, offset by the 341c benefit from the disposal of the ATC Uganda and ATC Ghana tower joint ventures.
Headline earnings per share (HEPS) for the year to December are expected to be between 50% and 70%, or 234c to 328c, higher, than the 468c achieved in the preceding financial year. This equates to HEPS for the period of between 702c and 796c.
The company’s HEPS were negatively impacted by nonoperational items of 118c apiece, mostly related to foreign exchange losses.
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