Mobile operator MTN expects profits to more than doule in its half-year to end-June.

Headline earnings per share growth (HEPS) is expected to be between 115% and 125% higher than the prior period’s 195c, the group said in a trading update, partially due to favourable foreign exchange gains. HEPS is a widely used profit measure in SA, stripping out certain one-off items to give a better indication of the underlying performance of a business.

MTN's shares had leapt more than 10% earlier in July, when it said HEPS would rise at least 100%.

In afternoon trade on Friday, MTN’s share was down 5.01% to R57.59, having lost about 30% in 2020.


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