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Cape Town - MTN's share price was down 1.3% to R198.08 by midday on Thursday despite a positive trading update earlier in the day.
Cellular network operator MTN [JSE:MTN] said in a statement on Thursday that it expects an increase of between 25% and 30% in headline earnings per share and attributable earnings per a share for the year ended December 31 2013, when compared with the previously reported year.
The group said that earnings were positively affected by foreign exchange gains of approximately R1.1bn, mainly a result of R2.3bn exchange rate gain in MTN Mauritius partly offset by foreign exchange losses on certain operational working capital accounts.
The previous year had seen exchange losses of approximately R2.7bn, MTN said.
Cellular network operator MTN [JSE:MTN] said in a statement on Thursday that it expects an increase of between 25% and 30% in headline earnings per share and attributable earnings per a share for the year ended December 31 2013, when compared with the previously reported year.
The group said that earnings were positively affected by foreign exchange gains of approximately R1.1bn, mainly a result of R2.3bn exchange rate gain in MTN Mauritius partly offset by foreign exchange losses on certain operational working capital accounts.
The previous year had seen exchange losses of approximately R2.7bn, MTN said.
