SENS Note - 02 March 2012

MTN anticipating a jump in earnings

MTN is finalising its financial results for the year ended 31 December 2011. These results are expected to be announced on Wednesday 7 March 2012. Shareholders are advised that MTN expects an increase of between 41.8% and 46.8% in adjusted headline earnings per share ("adjusted HEPS") for the year ended 31 December 2011 when compared against the previously reported corresponding period. Attributable earnings per share are expected to increase by between 41.7% and 46.7%, and basic HEPS to increase by between 37.9% and 42.9% for the same period against those reported for the previous corresponding period. Prior year reported earnings included a R2.9 billion charge associated with the implementation of the MTN Zakhele scheme which had the effect of negatively impacting the prior year's reported earnings. If this charge is excluded, current year's earnings growth would have been between 56% and 61% lower. The current year's earnings are also positively affected by lower net finance costs.

Click here for original article