MTN Group, one of Africa’s leading telecommunications companies, has projected a more than 200% increase in its earnings per share (EPS) for the first half (H1) of 2025, compared to the same period in 2024. This significant growth outlook is largely attributed to robust operational performance, improved macroeconomic conditions, and strategic cost management across its markets.
The company disclosed this expected surge in a recent trading update to shareholders, noting that headline earnings per share (HEPS)—a key profit indicator in South Africa—are likely to increase by over 200% year-on-year. In H1 2024, MTN recorded a notable decline in profits, partly due to foreign exchange losses, inflationary pressures, and regulatory hurdles in some of its key markets, particularly Nigeria. However, the company appears to have made a strong recovery in 2025.
MTN attributed the expected turnaround to multiple factors, including strong data revenue growth, increased mobile money adoption, and improved currency stability in major markets. Furthermore, the company’s efforts in network expansion, digital transformation, and operational efficiencies have also played a crucial role in boosting earnings.
The telecom giant has also benefited from reduced financial costs, better pricing strategies, and the strengthening of local currencies—especially in Nigeria, which is one of its largest markets. MTN’s proactive engagement with regulators and focus on financial discipline have also helped stabilize performance.
Analysts view this development as a positive sign of MTN’s resilience and adaptability in challenging markets. The projected earnings growth may also improve investor confidence and could potentially boost the company’s share price on the Johannesburg Stock Exchange (JSE).
MTN is expected to release its detailed financial results for H1 2025 later in August. Investors and stakeholders are closely watching for confirmation of the forecasted earnings surge, which could mark a major turning point for the company after a turbulent 2024.
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