MTN: 10,670 -32 (-0.30%)
South Africa's MTN slides on profit guidance below forecasts
JOHANNESBURG, March 1 (Reuters) - Shares in MTN Group
fell as much as 5.4 percent on Friday, a day after the
South African mobile phone group announced guidance for annual
profit that was lower than forecasts.
The stock was down 3.9 percent at 80.21 rand at 1015 GMT,
recouping some losses after slipping to a low of 78.98 rand.
Shortly after the market closed on Thursday, Africa's biggest
mobile phone operator said 2018 profits would likely rise by as
much as 90 percent, lagging behind an estimate of more a than
two-fold jump in poll of seven analysts by Refintiv.
(Reporting by Tiisetso Motsoeneng
Editing by Edmund Blair)
First Published: 2019-03-01 10:01:42
Updated 2019-03-01 10:25:13
© 2019 Thomson Reuters. All rights reserved. Reuters content is the intellectual property of Thomson Reuters or its third party content providers. Any copying, republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. "Reuters" and the Reuters Logo are trademarks of Thomson Reuters and its affiliated companies.