MTN confident of annual profit jump - Mobile World Live

MTN confident of annual profit jump

12 FEB 2020

MTN Group predicted it would report a large increase in earnings from core activities for 2019 when it releases its annual results next month.

In an investor update, the company said its reported headline earnings per share (EPS), which includes business operations and investments but excludes one-off fees related to acquisitions, divestments and fines, would increase by between 30 per cent and 50 per cent compared with 2018.

Figures in 2018 were impacted by the booking of a number of one-off items, which is likely to cut its overall EPS growth rate to 10 per cent year-on-year.

The operator is due to report Q4 and full-year figures on 11 March.

Its update was light on detail, but in a statement to Bloomberg a company representative partly attributed the increase to strong growth in its Nigeria business.

During 2019, the company began a $1 billion asset sale plan designed to cut debt and subsequently struck a deal to sell a number of investments, though plans to exit Botswana were abandoned in October.

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Chris joined the Mobile World Live team in November 2016 having previously worked at a number of UK media outlets including Trinity Mirror, The Press Association and UK telecoms publication Mobile News. After spending 10 years in journalism, he moved...

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