Strong rand negatively impacts MTN earnings
MTN Group advised on Tuesday, 25 August 2009 that it expected an increase in its basic headline earnings per share (HEPS) of between 19.8% and 24.8% and attributable earnings per share (EPS) for the six-month period ended 30 June 2009 against the previous period.
Adjusted HEPS are expected to decrease by between 8.6% and 13.6% against the adjusted HEPS reported in the previous corresponding period, MTN said.
The group added that the only adjustment between HEPS and adjusted HEPS for the period to June 2009 was the reversal of the impact of the put option that a shareholder has on its MTN Nigeria operations.
"In addition to this reversal, the prior period comparative had an adjustment for the reversal of the deferred tax debit relating to the MTN Nigeria operations," the group said.
MTN also advised that earnings numbers were negatively impacted by the stronger rand.
The group expects to release its results on 27 August 2009.
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