South Africa’s MTN Group expects earning increase of 50 percent

MTN GROUP anticipates full-year headline earnings to rise as much as 50 percent.

The group, founded with the help of the South African government in 1994, has been touted as one of the country’s greatest corporate success stories. However, growth has been slowed by regulatory fines in recent years. This includes a $1.1 million fine for failing to cut off over five million unregistered sim cards.

MTN will report its 2019 results on March 11. It said headline earnings per share (HEPS) will be within a range of 438 to 506 cents on the IFRS 16 accounting basis that was adopted at the beginning of the year.