MTN has informed shareholders that it expects to report a significant earnings increase when it releases its interim results this week.<\/p>\n
The company said its earnings per share for the six months ended 31 June 2022 would be 195% to 205% higher \u2014 from R1.48 last year to between R4.37 and R4.51.<\/p>\n
Its headline earnings per share would be between R5.42 and R5.81, an expected 40% to 50% increase over the R3.87 it reported in June last year.<\/p>\n
“Earnings per share includes impairment losses that mainly relate to goodwill totalling approximately 25 cents (2021: 73 cents), an impairment loss on remeasurement of disposal groups of 52 cents (2021: 2 cents) and a net loss on the disposal of SA towers of 45 cents (2021: 0 cents),” MTN stated.<\/p>\n
The company said its headline earnings were\u00a0negatively impacted by some non-operational and once-off items of approximately 94 cents (2021: 118 cents).<\/p>\n
These include hyperinflation excluding impairments (2 cents), foreign exchange losses (88 cents) and an IFRS 2 charge arising from the MTN Ghana localisation transaction (4 cents).<\/p>\n
MTN informed shareholders in mid-June that it was in early discussions to acquire Telkom’s entire issued share capital<\/strong><\/a>.<\/p>\n The company said it would buy Telkom in return for shares or a combination of cash and shares.<\/p>\n MTN’s shares rose sharply on the news, jumping over 7% on the day.<\/p>\n However, the company is still trading over 19% lower year-to-date<\/a><\/strong>, declining from around R172 per share on 3 January to R139 at market close on Friday.<\/p>\n South Africa’s second-biggest mobile network had a strong start to the year, with its share price surging over R200 for the first time in almost seven years in February 2022.<\/p>\n That was spurred by a reduction in debt for its holding company and solid performance in markets like Nigeria, which benefitted significantly from the rising oil price.<\/p>\n However, MTN’s gains were eroded after the Nigerian Communications Commission announced in April\u00a0that all mobile operators had to restrict outgoing calls for subscribers with SIMs not linked to a National Identity Number.<\/p>\n MTN has informed shareholders that it expects to report a significant earnings increase when it releases its interim results this week.<\/p>\n","protected":false},"author":15,"featured_media":454813,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"idle","_sma_x_autopost_error":"","_sma_x_post_id":"","_sma_facebook_post_id":"","_sma_instagram_post_id":"","_sma_threads_post_id":"","_sma_x_attempts":0,"footnotes":""},"categories":[3],"tags":[42],"class_list":["post-454811","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-telecoms","tag-mtn"],"_links":{"self":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/454811"}],"collection":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/comments?post=454811"}],"version-history":[{"count":0,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/454811\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media\/454813"}],"wp:attachment":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media?parent=454811"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/categories?post=454811"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/tags?post=454811"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nNow read:\u00a0Cell C says MTN’s proposed Telkom acquisition must be handled with care<\/a><\/h3>\n","protected":false},"excerpt":{"rendered":"