According to MTN Group, South Africa’s largest mobile operator by subscribers, it is expecting its annual profit to rise by up to 70%, after the sale of Uganda and Ghana tower joint ventures.
The company said it expects headline earnings per share, a key financials metric for South African firms, to be between 702 and 796 South African cents for the year ended Dec. 31 compared with 468 cents a year ago.
The Johannesburg-based company is scheduled to report more detailed results on March 10.
MTN has been selling assets to streamline the company and pay down debt, and has a target of raising 25 billion rand over the next three-to-five years.
