Telecommunications group MTN informed its shareholders yesterday that it expects a surge in headline earnings when it reports its full-year results for the year ending December 2022.
In a trading statement published on Wednesday, the group said it anticipated earnings per share (Eps) to increase between 35% and 45%, while adjusted headline earnings per share (Heps) was expected to increase by 12% to 22% for the period.
According to MTN, earnings were boosted by a net gain on the disposal of its SA towers business, contributing 22 cents per share, while also drawing net profits from disposals of other properties, plants, and assets.
The group said it was expecting impairment losses to be reduced.
“Headline earnings were negatively impacted by non-operational once-off items for the 2022 financial year. These include hyperinflation adjustments, foreign exchange losses, an IFRS 2 charge arising from the MTN Ghana localisation transaction, divestments, remeasurement of deferred tax assets, and other non-operational items,” it said.
These once-off items accounted for a reduction of approximately -59 cents in 2021, compared to -123 cents for 2022 Heps, it said.
BUSINESS REPORT