MTN Anticipates 140% Increase in EPS

MTN expects an increase in earnings per share (EPS) of at least 345 cents or 140%, according to a trading statement.

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Headline earnings per share (“HEPS”) is expected to be at least 195 cents or 100% higher, representing HEPS of greater than 390 cents for the six months ended 30 June 2020, compared with HEPS of 195 cents for the corresponding six-month period ended 30 June 2019.

EPS includes the benefit from gains amounting to 341 cents on the disposal of the ATC Uganda and ATC Ghana tower joint ventures as announced in March 2020.

MTN will provide a further update on the expected EPS and HEPS growth ranges once it has reasonable certainty of such ranges.

MTN Appoints New CEOs in Benin and Cameroon

MTN has appointed new CEOs for two of its West African operations, MTN Cameroon and MTN Benin. Stephen Blewett, the current CEO of MTN Benin, will take the helm at MTN Cameroon on 1 August 2020 when Uche Ofodile, the current CEO of MTN Liberia, will become the CEO of MTN Benin.

“I would like to congratulate Stephen and Uche on their appointments,” says MTN Group president and CEO, Rob Shuter. “Both are renowned for harnessing the power of people to move businesses forward. This is evident in the significant improvements in employee engagement, as well as overall performance, at MTN’s operations in Benin and Liberia in the past few years.”