Headline earning per share (EPS) in the H1 2015 for South Africa – based telco, MTN, will be between 10% to 15% lower that it declared in the corresponding period last year.
The company said that it expects a drop in its first-half earning due to a weaker exchange rate affecting its international businesses and it’s why EPS on its shares have taken a dip. Shares in MTN are trading at 5% lower as at 7:30 GMT today, Businessday reports.
This revelation conflicts with the company’s projection for 2015. The company had told investors to expect an increase of between 5% and 15% in headline earnings per share.
MTN experienced a hitch in its operations in South Africa as its staff embarked on a strike action that lasted two months and ended with the resignation of its CEO, Ahmad Farouk.
The company’s operations in Nigeria, its largest market was also disrupted by the nationwide fuel scarcity experienced in the country back in May, 2015.
Photo Credit: PublicDomainPictures via Pixabay Cc
