SENS Note - 14 July 2017

MTN Group - trading statement

MTN is currently in the process of finalising its financial results for the six months ended 30 June 2017, which will be announced on the Stock Exchange News Service of the JSE Ltd. on Thursday, 3 August 2017. Shareholders are therefore advised that MTN expects to report an improvement of at least 20% in both headline earnings per share (HEPS) and earnings per share (EPS) for the six-month period ended 30 June 2017, compared with a headline loss per share of 271 cents and attributable loss per share of 301 cents reported in the prior comparable period. The negative performance in the prior year period was mainly as a result of non-reccurring costs, including the Nigeria regulatory fine of 474 cents per share (cps), professional fees related to the fine of 73 cps and losses of 136 cps from MTN’s 51% equity interest in Nigeria Tower InterCo B.V. mainly as a result of unrealised losses on US dollar-denominated loans. A further trading statement will be issued once the company obtains a reasonable degree of certainty as to the likely range within which the HEPS and EPS are expected to be finalised.

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