MTN Group said it expects to report an almost doubling in earnings for 2018. The growth in full-year headline earnings per share is forecast at between 80 percent and 90 percent, from ZAR 1.82 to 2017 to ZAR 3.28-3.46. That compares to the company's outlook issued in early February for growth of at least 20 percent. Reported EPS is expected to increase from ZAR 2.46 to 4.80-4.92.
In a trading update for the year, the company said headline earnings per share were negatively impacted by a number of one-off and non-cash items totaling approximately ZAR 2.20. The adjustments include costs related to the Nigerian regulatory fine, hyperinflation adjustments, net foreign exchange losses and the resolution payment to the Central Bank of Nigeria. The results for 2018 were also impacted by the stronger rand and weaker currencies in the group's foreign entities.
MTN added that since the end of 2018, MTN Nigeria has resumed paying dividends to the company.
Detailed results will be released on 07 March.
