SENS Note - 02 March 2018
MTN - trading statement
 
MTN is currently in the process of finalising results for the 12 months ended 31 December 2017, which will be announced on the Stock Exchange News Service of the JSE Ltd. on Thursday, 8 March 2018.

Following the trading statement published on Monday, 29 January 2017, shareholders are further advised that MTN expects to report, for the 12-month period ended 31 December 2017, full year headline earnings per share (HEPS) of between 170 cents per share (cps) and 190cps and basic earnings per share (EPS) of between 235cps and 255cps. This compares with a headline loss per share of 77cps and attributable loss per share of 144cps for the prior financial year. The negative performance in the comparable period was mainly as a result of non-recurring costs, including those related to the Nigerian regulatory fine and losses on MTN’s 51% equity interest in the Nigerian tower company.

HEPS were impacted by a number of once off and non cash items totalling 483cps in financial year ended 31 December 2017. The adjustments for the financial year ended 31 December 2017 (financial year ended 31 December 2016) include costs related to the Nigerian regulatory fine 46cps (500cps), Hyperinflation adjustments excluding impairments 96cps (37cps), net foreign exchange losses 159cps (235cps), Zakhele Futhi share-based payment expense 24cps (88cps) and a loss on the derecognition of a loan to an IHS tower subsidiary 158cps (0cps), respectively. The results for the financial year ended 31 December 2017 were also impacted by the stronger rand and weaker currencies in the foreign entities.

The financial information on which this trading statement is based has not been reviewed and reported on by the external auditors of MTN.

 
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