MTN expects return to profit after 2016 loss
29 January 2018 - 12:24
MTN says it expects to report a return to profit for the 2017 financial year after a $1.5bn fine in Nigeria and other one-offs dragged the group to a loss in the previous year. Analysts said a profit had been expected, though the market was waiting for more clarity before MTN published its results in early March. On Monday MTN said headline earnings per share would rise by at least 20% and earnings were likely to be positive. The group recorded a headline loss per share of 77c for 2016, largely because of the fine in Nigeria and losses from its 51% stake in Nigerian tower company IHS Holdings.
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