MTN Group’s earnings are expected to soar in the first half driven mainly by the strong performances from MTN Nigeria and MTN Ghana.
The group said in a trading statement on Thursday that headline earnings per share (HEPS) for the six months to end-June were expected to range between 614c and 666c after a loss of 256c a year ago.
The group, valued at R291.8 billion ($16.5 billion) on the JSE, said it expected to report a “robust performance” for the first half, driven by strong commercial execution, disciplined capital allocation and improved macro conditions.
“Inflation and foreign exchange rates in key markets [like Ghana], showed improved stability, which supported the positive momentum in our operational and financial results,” it said.
MTN Ghana and MTN Nigeria, the two units that have reported so far, delivered strong first-half results.
Also Read: MTN Ghana reports 55.8% surge in half-year profit to GHS 3.6 billion
Last week, MTN Nigeria reported a strong turnaround in the first half of 2025 as operating conditions improved. The company reported profit after tax of 414.9-billion naira (R4.9bn) for the six months to end-June after a loss of 519.1-billion naira a year ago.
Also Read: MTN Nigeria posts major FX loss recovery, earns over $1.57 billion in H1 2025
In addition, Business Day reported on Tuesday that MTN Nigeria had become the second listed company in the West African country to reach a market value of 10-trillion naira as a turnaround in the unit’s fortunes helps to drive up investor sentiment.
Nigeria has provided many twists and turns for the storied JSE-listed mobile operator. As its largest business, the unit has grown since opening shop in August 2001 to account for a third of earnings, followed by SA and Ghana.
MTN Ghana reported profit after tax for the six months to end-June had increased by 55.8% to 3.6-billion cedis.
