Africa’s largest mobile operator, MTN, expects its interim profit to remain flat or rise despite the impact of hyperinflation and foreign exchange in some of its markets.
- MTN is valued at about R264.4bn on the JSE.
- The company sees its headline earnings per share (Heps), a common profit measure in SA that excludes certain items, to remain flat or rise 10% to 506c-557c.
- MTN has been hurt by the floating of Nigeria’s naira in June.
- Despite forex losses, MTN’s interim profit growth is considered slight.
- The company is facing challenges in some of its markets due to hyperinflation and forex issues.