| SENS Note - 27 July 2017 |
| MTN Group - trading statement |
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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. Following the trading statement published on Friday, 14 July 2017, shareholders are further advised that MTN expects to report interim 2017 basic headline earnings per share of between 210 cents and 230 cents and basic earnings per share of between 280 cents and 300 cents. This compares 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 comparable period was mainly as a result of non-recurring costs, including the Nigeria regulatory fine of 474 cents per share (cps) which was fully expensed in prior periods, 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 prior to the exercise of the exchange right where MTN exchanged its 51% shares of Nigeria Tower InterCo B.V. for an increased equity stake in IHS. |
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