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MTN Group sees H1 profits down 10-15% on forex effects
2015-07-28 11:52:00| Telecompaper Headlines
(Telecompaper) MTN Group said it's expecting a decrease of between 10 and 15 percent in profits for the first six months of 2015, as fluctuating exchange rates hurt its bottom line. In a market update, MTN said this equates to headline EPS of ZAR 6.20-6.56. The African operator said it also expects a 10-15 percent fall in attributable earnings per share compared to the year-earlier period, giving a result of ZAR 6.21-6.58 per share. Adverse exchange rate and cross rate movements impacted both revenues and EBITDA in the period, as well as resulting in increased forex losses, MTN said.
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Category:Telecommunications
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