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 finalising its financial results for the year ended 31 December 2011.
These results are expected to be announced on Wednesday 7 March 2012.
In terms of paragraph 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 41.8% and
46.8% in Adjusted headline earnings per share ("Adjusted HEPS") for the year
ended 31 December 2011 when compared against the previously reported
corresponding period. Attributable earnings per share are expected to
increase by between 41.7% and 46.7%, and Basic HEPS to increase by between
37.9% and 42.9% for the same period against those reported for the previous
corresponding period.
Prior year reported earnings included a R2.9 billion charge associated with
the implementation of the MTN Zakhele scheme which had the effect of
negatively impacting the prior year`s reported earnings. If this charge is
excluded, current year`s earnings growth would have been between 56% and 61%
lower. The current year`s earnings are also positively affected by lower net
finance costs.
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 2011.
Fairland
2 March 2012
Sponsor
Deutsche Securities (SA) (Proprietary) Limited
Date: 02/03/2012 17:23:01 Produced by the JSE SENS Department.
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