SENS Note - 28 February 2019

MTN - trading statement

MTN is currently in the process of finalising its results for the 12 months ended 31 December 2018. These will be announced on the Stock Exchange News Service of the JSE Ltd. on or about Thursday, 7 March 2019. Following the trading statement published on Monday, 4 February 2019, shareholders are further advised that MTN expects to report, for the 12-month period ended 31 December 2018, growth in full year headline earnings per share ("HEPS") of between 80% and 90% and growth in basic earnings per share ("EPS") of between 95% and 100%. Considering the HEPS of 182 cents and EPS of 246 cents for the prior financial year this translates into a range for HEPS of 328 cents to 346 cents and for EPS of 480 cents to 492 cents. HEPS were impacted by a number of once-off and non-cash items totaling approximately 220 cents per share in the financial year ended 31 December 2018. The adjustments for the year include costs related to the Nigerian regulatory fine, hyperinflation adjustments, net foreign exchange losses and the resolution payment to the Central Bank of Nigeria ("CBN"). The results for 2018 were also impacted by the stronger rand and weaker currencies in the group's foreign entities. Post year end and following the resolution of the dispute with the CBN, MTN Nigeria has resumed dividend payments to its shareholders. The financial information on which this trading statement is based has not been reviewed and reported on by the external auditors of MTN.

Click here for original article