South African telecommunications firm, MTN, on Friday said that it expects to report full year headline earnings per share (HEPS) of between 170 cents and 190 cents per share for the 12 month period ended 31 December 2017.
This compares with a headline loss per share of 77 cents per share and attributable loss per share of 144 cents per share for the previous financial year.
The negative performance in the comparable period was mainly as a result of non-recurring costs, including those related to the Nigerian regulatory fine and losses on MTN’s 51 percent equity interest in the Nigerian tower company.
MTN said that HEPS were impacted by a number of once off and non cash items totaling 483 cents per share in financial year ended 31 December 2017.
The adjustments for the financial year ended 31 December 2017 include costs related to the Nigerian regulatory fine, hyperinflation adjustments, net foreign exchange losses, Zakhele Futhi share-based payment expense, and a loss on the derecognition of a loan to an IHS tower subsidiary, respectively.
MTN will announce the results for the 12 months ended 31 December 2017 next week.
