MTN jumps on upbeat profit forecast
Group expects headline earnings per share for six months to end-June to double
24 July 2020 - 08:08
Shares in MTN rose more than 11%, its biggest on-day gain in four months, on Friday after saying that it expects profits to double in its half-year to end-June after benefiting from foreign exchange gains.
Africa’s largest mobile network operator, which lost more than half of its value in the first three months of the year, reached a 16-year low in March with its shares fetching a paltry R29 due to a share drop in oil prices, which directly affected some of biggest markets, particularly Nigeria...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.