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South Africa's MTN says H1 earnings up 20-25 pct on forex

Thu Aug 1, 2013 2:22am EDT

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JOHANNESBURG Aug 1 (Reuters) - MTN Group, Africa's largest mobile operator, said on Thursday first-half profits likely rose by as much 25 percent, helped by positive currency swings from its vast operations outside South Africa.

MTN, which draws nearly 70 percent of its revenue from countries outside South Africa including Nigeria and Iran, said it expects headline earnings per share for the six months to end-June to rise by 20 to 25 percent.

Headline EPS, the main measure of profit in South Africa, excludes certain one-time items.

The company said it was helped by foreign exchange gains of 1 billion rand ($100 million) compared with losses of 1.5 billion a year earlier.

MTN is due to release its results on August 14. ($1 = 9.9093 South African rand) (Reporting by David Dolan; Editing by Pascal Fletcher)

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