Woes continued for MTN on the JSE today as its share price at one point plunged around 9% in trade after the company missed analysts’ profitability forecasts.
The mobile network, in a trading statement, reported that headline earnings per share, which excludes one-time items, were probably R2.10 to R2.30 for the half-year period. This is below analysts’ expectations of R2.60 a share.
However, MTN is firmly back on the road to profitability after recently recording its first ever full-year loss in about 20 years.
And with new Group CEO Rob Shuter roping in a number of big name execs from across the telecoms and banking industries, MTN may just still be a company to watch.