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 six month period
ended 30 June 2009, expected to be announced on the morning of 27 August 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.
Shareholders are advised that MTN expects an increase of between 19.8% and
24.8% in Basic Headline Earnings per Share ("HEPS") as well as Attributable
Earnings per Share for the six month period ended 30 June 2009 against the
previously reported corresponding period. Adjusted Headline Earnings per Share
("Adjusted HEPS") for the six month period ended 30 June 2009 are expected to
decrease by between 8.6% and 13.6% against the Adjusted HEPS reported in the
previous corresponding period.
The only adjustment between HEPS and Adjusted HEPS for the period to June 2009
is the reversal of the impact of the put option that a shareholder has on the
MTN Nigeria operations. In addition to this reversal, the prior period
comparative had an adjustment for the reversal of the deferred tax debit
relating to the MTN Nigeria operations.
Shareholders are reminded that the above earnings numbers are negatively
impacted by the stronger ZAR and resultant unrealised forex losses on loans to
and receivables from certain operations versus unrealised forex gains in the
prior period. Unrealised forex losses in the current period also include
losses on dollar denominated deposits.
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 30 June 2009.
Fairland
25 August 2009
Sponsor
Deutsche Securities (SA) (Proprietary) Limited
Date: 25/08/2009 16:49:06 Produced by the JSE SENS Department.
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