JOHANNESBURG - MTN is expecting a major rebound in profit for the year to December.
Headline and basic earnings are set to surge after a very weak performance last year.
The company expects headline earnings per share to jump as high as R12,84 with Basic earnings per share projected to recover to R11,68.
The turnaround follows steep inflation and a currency slide in Nigeria.
ALSO READ | Vodacom boosts Safaricom stake to 55%
MTN Nigeria ended the year in positive territory and delivered a strong profit helped by rising subscriber numbers and a reversal of earlier foreign losses.
In South Africa, the business continues to face pressure, especially in the prepaid market but Nigeria's strong performance helped cushion the impact.
MTN's share price has slipped in a softer JSE session as geopolitical tensions in the Middle East weighed on sentiment.