MTN Expects an Upward 20% Boost in Earnings per Share

Enterprise Network -MTN Nigeria Releases Results for Q1 2019, Gains 2.1m Subscribers MTN Nigeria

MTN Expects an Upward 20% Boost in Earnings per Share

South Africa-based multinational mobile telecommunications company, MTN on Monday said it expected to see a 20 per cent improvement in earnings per share in its 2018 financial performance compared with 2017.

According to Reuters, headline earnings per share is a key profit measure in South Africa that strips out one-off items. Africa’s biggest mobile phone operator reported headline earnings per share of 182 cents and attributable earnings per share of 246 cents in 2017 financial year.

Following the announcement, MTN shares recovered some earlier losses to stand at 87.60 rands per share, down 0.57 per cent, at 0924 GMT.

The Nigerian unit of the company was hit by $8.1 billion repatriation demand by the Central Bank of Nigeria (CBN) based on illegally issued Certificates and Capital Importation. The matter was settled with the Nigerian authorities and the telecoms company paid $53 million (N19.2 billion) payment.

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