South Africa’s MTN to swing to H1 loss, hit by Nigeria currency devaluation

JOHANNESBURG: Africa’s biggest telecoms operator MTN Group on Wednesday said it will swing to a half-year loss, hit by the devaluation of the Nigerian naira and operational challenges in Sudan.

The operator with 288 million customers across 18 markets in Africa said it expects headline earnings per share (HEPS) to slump to a loss of between 217 cents and 271 cents in the six months to June 30 from a profit of 542 cents a year earlier.