SENS Note - 20 February 2009
MTN -- trading statement
 
MTN is currently finalising its financial results for the year ended 31 December 2008, expected to be announced on the morning of 12 March 2009. Shareholders are advised that MTN expects an increase of between 38% and 43% in basic headline earnings per share as well as an increase of between 29% and 34% in adjusted headline earnings per share for the year ended 31 December 2008 against the previously reported corresponding period. Attributable earnings per share for the year ended 31 December 2008 are expected to increase by between 39% and 44% against the attributable earnings per share reported in the previous corresponding period. As reported on in previous periods, the major adjustments between HEPS and Adjusted HEPS are the reversal of the impact of the unwind of the deferred tax asset previously raised (although there has been no movement from 30 June 2008) and the reversal of the impact of the put option which has been affected by forex movements in the second half of the year. Shareholders are also advised that the above earnings numbers are further enhanced by the unrealised forex gains on loans to certain operations and that the actual effective tax rate is expected to be higher than originally anticipated. This trading statement has neither been reviewed nor reported on by MTN's external auditors.
 
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