SENS Note - 29 September 2003

MTN issues trading update and cautionary

MTN announced today (29 Sep 03) that it expects the adjusted headline earnings per share for the 6 months ended 30 Sep 03 to be substantially above the headline earnings per share for the prior 6 months ended 30 Sep 02. In addition, a mean analysts' consensus headline earnings per share forecast for the company's headline earnings per share for the year to Mar 04 appears on Bloomberg. Such consensus forecast is for the full financial year and no indication of the expected interim or half year headline earnings per share is given. However, a consensus forecast for the 6 month period ending 30 Sep 03 can be derived by taking 50% of the full year mean consensus forecast of headline earnings per share. The full year mean consensus forecast of headline earnings per share for MTN published on 25 Sep 03 was 203.4cps. The Derived Interim Consensus Forecast earnings per share for the 6 months to 30 Sep 03 is therefore 101.7 cents. The company expects the interim adjusted headline EPS for the 6 months ending 30 Sep 03 to be materially above the derived interim consensus forecast per share. The reason for this is that various once off earnings streams have occurred in the 6 month period to 30 Sep 03 which may not recur in the second half of the year. In addition, MTN's earnings could be negatively or positively affected by, amongst others, pricing changes that could occur in the various countries in which the MTN operates due to potential changes in the competitive environment, or by volatility in exchange rates. Shareholders are advised to exercise caution when dealing in the company's securities until publication of the company's interim results on or about 2 Dec 03.

Click here for original article