MTN to post poor financial results

MTN has told investors it expects to report a loss in basic headline earnings per share and basic earnings per share for 2016.

“In the prior year comparable period, MTN reported HEPS of 1,204 cents and EPS of 746 cents,” it said.

The network said the decline is a result of the fine it received in Nigeria – which is expected to have an estimated negative impact of approximately 474 cents on HEPS and EPS, respectively.

The results will also be affected by the underperformance of MTN South Africa.

“The disappointing results from MTN South Africa in the first six months were largely due to the poor postpaid performance.”

Now read: Least dropped calls fight – Vodacom vs MTN

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MTN to post poor financial results