Picture: BLOOMBERG/NADINE HUTTON
Picture: BLOOMBERG/NADINE HUTTON

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.

gernetzkyk@businesslive.co.za

Would you like to comment on this article or view other readers' comments?
Register (it’s quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.