MTN earnings expected to takeoff

Date:1 August 2022 Author: Rienk De Beer

MTN has told its investors that it anticipates a large earnings increase this week when it reports its interim results.

In a trade statement on Monday, MTN Group stated that it anticipates headline profits per share to increase by between 40 and 50 percent from the same time a year ago through the six months ending on June 30, 2022.

Heps is anticipated to be between R5.42 and R5.81, according to the JSE-listed pan-African telecoms giant, up from the R3.87 reported in the same six-month period in 2021, according to techcentral.co.za.

If not for a variety of non-operational and one-time items totaling 94c/share, the figure would have been higher. These include 88 cents per share in foreign exchange losses.

The increase in earnings per share (EPS) will be between 195 and 205 percent (R4.37 to R4.51, from R1.48 before).

The second-largest mobile network in South Africa had a solid start to the year, with its share price rising above R200 in February 2022 for the first time in nearly seven years.

That was prompted by a decrease in debt for its holding firm as well as strong results in places like Nigeria, which greatly benefited from the increased oil price.

The Nigerian Communications Commission announced in April that all mobile providers must restrict outbound calls for consumers with SIMs not linked to a National Identity Number, wiping away MTN’s gains in the process.

Latest Issue :

May-June 2022