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Telecommunications giant MTN expects to report a 10% to 15% drop in earnings when it publishes its financial results for the six months to June 30, on August 5.
Basic earnings per share (BEPS) for the six months under review would likely be between 620c to 656c, while headline earnings per share (HEPS) would be between 621c and 658c, compared with the BEPS and HEPS of 731c and 729c apiece achieved in the prior corresponding period.
MTN attributed the decline to adverse exchange rate and cross rate movements impacting the rate at which both revenues and earnings before interest, taxes, depreciation and amortisation were translated.