The cellphone network operator said it expected to report a fall into a headline loss per share for the six months to end-June of between R2.55 and R2.85 from the matching period’s headline earnings of R6.54.
The biggest contributor to its loss for the reporting period‚ at R4.74 per share‚ was the portion of its Nigerian fine paid during the period, it said.
On June 10‚ MTN said it had reached a settlement with the Nigerian government‚ reducing its $5.2billion (R71.1-billion) fine to about $1.7-billion (R23.2- billion), to be paid over three years.
MTN paid an initial 50-billion naira (R2.1-billion) on February 24 and 30-billion naira (R1.2-billion) was due by July 8.
Among other factors the company indicated as contributing to its loss for the reporting period was the rand’s depreciation against the dollar, which cost it a further R1.35 per share in foreign exchange losses.
The weaker rand cost it an additional R1.36 per share in servicing foreign-denominated loans made to cellphone tower operators.
