MTN Group Expects to Report Rise 1st Half Earnings

By Anthony O. Goriainoff

MTN Group said Monday that it expects to report a 10% to 20% rise in earnings per share for the first half, as well as a rise in headline EPS of up to 10%.

The South Africa-based telecommunications group expects to report first-half EPS of 4.90 to 5.34 South African rand (28-30 U.S. cents) compared with ZAR4.45 in the year-prior period, and headline EPS of ZAR5.06 to ZAR5.57, compared with ZAR5.06 the year before.

MTN said its first-half EPS was affected by impairment losses mainly related to property, plant and equipment and associates of 13 rand cents, an impairment loss on remeasurement of disposal groups of 21 rand cents compared with rand 52 cents in June 2022, and a net profit on the disposal of SA towers and other assets of 3 rand cents, compared with 16 rand cents in June 2022.

Headline EPS was affected by some non-operational and one-off items of approximately ZAR2.07 compared with 94 rand cents for the six-month period in 2022.

Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com

(END) Dow Jones Newswires

July 31, 2023 02:15 ET (06:15 GMT)

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