MTN expects higher earnings
Mobile operator MTN Group said on Friday (4 March 2011) that it anticipated an increase of between 18% and 23% in adjusted headline earnings per share (HEPS) for the year ended December 2010 compared with the prior period.
Attributable earnings per share were expected to differ by between a negative 5% and a positive 1%, and basic HEPS to decrease by between 3% and 8% for the same period, it said.
MTN explained that the adjustments between basic HEPS and adjusted HEPS were the reversal of the impact of the put options that shareholders had on the MTN Nigeria and MTN Afghanistan operations, as well as the impact of MTN Zakhele and the ESOP scheme.
"The MTN Zakhele adjustment includes a reversal of all of the costs incurred but does not include the reversal of the impact of the shares issued under the Notional Vendor Finance as these are already reversed in terms of IFRS," the group said.
MTN expects to publish its results on March 9.