MTN STRENGTHENS LEADERSHIP IN AFRICA WITH STRONG RESULTS AND DECLARES DIVIDEND
The MTN Group has changed its financial year-end to 31 December in line with its operational cycle and to align itself with its international peer group. The Group is reporting on this basis for the first time.
The MTN Group reports adjusted headline earnings per share (HEPS) of 338,2 cents for the nine months to 31 December 2005 (the period) compared with 366 cents for the 12-month period ended 31 March 2005. Although not directly comparable with the prior 12-month period ended 31 March 2005, revenue of R27,2 billion for the current period compares favourably to revenue of R29 billion for the prior 12-month period.
Earnings before interest, tax, depreciation and amortisation (EBITDA) of R11,2 billion also demonstrated sound growth when compared to the EBITDA of R12,0 billion for the prior 12- month period. In line with these results, the adjusted profit after tax (PAT) of R6,7 billion for the nine-month period was very satisfactory being only 8% lower than the R7,3 billion (restated) for the prior 12-month period.
The reported adjusted HEPS and adjusted PAT exclude the beneficial financial impact of the further recognition of the deferred tax asset accounted for by MTN Nigeria, as well as the effects of an obligation which one of our subsidiaries has to purchase a certain portion of its own equity (“put option”). Basic headline earnings per share is 359,8 cents compared to 382 cents (restated) for the prior 12-month period. MTN as a group has over 23 millions subscriberts and realised new investments in Cote d’Ivoire (51%), Zambia (100%), Botswana (44%), Congo Brazzaville (100%) and Iran (49%)