Johannesburg - MTN Group [JSE:MTN],
Africa’s biggest mobile-network operator by sales, said it returned to
profit in 2017, recovering from a $1bn fine it paid for its
Nigerian business in the prior period.
It expects to report a profit for the 12 months ended December 31, the
Johannesburg-based company said in a
statement on Monday. That compares with a headline loss of 77 cents a
share and an attributable loss of 144c a share a year earlier, it
said.
The company will give more information once it obtains more
certainty on the profit range, it said.
MTN is working its way through a tumultuous period triggered by the
Nigerian penalty in October 2015. Originally set at $5.2bn, the
penalty led to the resignation of the CEO and months of negotiations
before it was eventually settled.
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