MTN
MTN
MTN - MTN Group Limited - Trading Statement
MTN Group Limited
(Incorporated in the Republic of South Africa)
Registration number 1994/009584/06
Share code: MTN
ISIN ZAE000042164
("MTN")
TRADING STATEMENT
MTN is currently finalising its financial results for the year ended 31 December
2008, expected to be announced on the morning of 12 March 2009.
In terms of Section 3.4 (b) of the Listings Requirements of the JSE Limited,
issuers are required to publish a trading statement as soon as they are
satisfied that a reasonable degree of certainty exists that the earnings for the
period to be reported upon next will differ by at least 20% from those of the
previous corresponding period, 31 December 2007.
Shareholders are advised that MTN expects an increase of between 38% and 43% in
Basic Headline Earnings per Share ("HEPS") as well as an increase of between 29%
and 34% in Adjusted Headline Earnings per Share ("Adjusted HEPS") for the year
ended 31 December 2008 against the previously reported corresponding period.
Attributable Earnings per Share for the year ended 31 December 2008 are expected
to increase by between 39% and 44% against the Attributable Earnings per Share
reported in the previous corresponding period.
As reported on in previous periods, the major adjustments between HEPS and
Adjusted HEPS are the reversal of the impact of the unwind of the deferred tax
asset previously raised (although there has been no movement from 30 June 2008)
and the reversal of the impact of the put option which has been affected by
forex movements in the second half of the year.
Shareholders are also advised that the above earnings numbers are further
enhanced by the unrealised forex gains on loans to certain operations and that
the actual effective tax rate is expected to be higher than originally
anticipated.
This trading statement has neither been reviewed nor reported on by MTN`s
external auditors.
The information provided in this announcement does not contain and should not be
construed as containing any forward looking statements or projections of any
nature whatsoever for periods beyond 31 December 2008.
Fairlands
20 February 2009
Sponsor
Deutsche Securities (SA) (Proprietary) Limited
Date: 20/02/2009 17:44:43 Produced by the JSE SENS Department.
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