MTN to report robust H1 performance
Telecommunications group MTN expects to report an increase in earnings for the six months ended June 30, driven by strong performances from MTN Nigeria and MTN Ghana.
The JSE-listed group, which will publish its half-year results on August 18, said in a trading statement released on Thursday that its earnings per share (EPS) will surge by more than 200%, while its headline earnings per share (HEPS) will rise by more than 300%.
At an expected range of 495c to 577c, EPS for the first half of the year under review will be between 904c and 986c higher than the loss of 409c reported in the first half of the 2024 financial year.
HEPS will be between 614c and 666c apiece, which is 870c to 922c higher than the loss of 256c experienced in the prior corresponding half-year.
The improvement is a result of strong commercial execution, disciplined capital allocation and improved macro conditions, while inflation and foreign exchange rates in key markets showed improved stability, which supported the positive momentum in MTN Group’s operational and financial results, the company explained in the trading update.
In MTN Group’s larger operations, MTN Nigeria and MTN Ghana published strong first-half results, demonstrating pleasing growth in service revenue and profitability.
MTN South Africa, however, has faced challenges in the market, particularly within the prepaid segment.
“However, we are encouraged by the overall first-half trajectory of key operations within our broader markets portfolio, which have also supported the first-half performance.”
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