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MTN annual results tomorrow

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Ruby
Contributor
Any ideas what we can expect? Could we maybe expect a rally tomorrow?
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5 REPLIES 5
Shaun_Siddall
Super Contributor
I think it is priced in.
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SimonPB
Valued Contributor
08:35 19Mar08 RTRS-UPDATE 1-MTN boosts 2007 profit on 53 pct subscriber jump

JOHANNESBURG, March 19 (Reuters) - Sub-Saharan Africa's biggest mobile phone operator MTN boosted 2007 adjusted headline earnings per share to 682 cents from 585 cents thanks to a 53 percent jump in subscribers to 61.4 million.

The South African-based company said in a statement on Wednesday earnings before interest, tax, depreciation and amortisation (EBITDA) rose 42 percent to 31.8 billion rand ($3.93 billion) and sales rose 42 percent to 73.1 billion rand.

MTN said net profit and basic headline EPS fell compared with the previous year due to higher finance charges and higher taxes after a tax holiday in Nigeria ended.

Adjusted headline EPS, on which the company focuses, strips out certain financial, non-trading and one-off items, such as the impact of the Nigerian tax break.

MTN did not give detailed forecasts for 2008 but said prospects remained positive in its key markets.

The company, which has pursued an aggressive acquisition spree in risky but lucrative African and Middle East countries, said it was actively seeking expansion opportunities in emerging markets.

MTN said its business in Iran, which it launched late in 2006 -- worrying some investors due to the country's nuclear stand-off with the West -- boosted subscribers to 6 million at the end of 2007 from 154,000 a year earlier. Average revenue per user there rose to $10 from $9.
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SimonPB
Valued Contributor
consensus was for 661c, so results slightly better then expected. High expect was 837c and low 576c.
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analyst
Frequent Contributor
well someone is surely trying to open it up at 12700 with a bid on 10 shares
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Shaun_Siddall
Super Contributor
Well its a good day to release those kind of results.
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