March 8, 2018 / 5:26 AM / 3 months ago

South Africa's MTN swings to $279 million annual profit

JOHANNESBURG, March 8 (Reuters) - MTN Group, Africa’s biggest mobile phone operator, returned to annual profit in 2017 in the absence of one-off charges related to a $1.1 billion Nigerian fine.

Headline earnings totalled 3.3 billion rand ($278.82 million), or 182 cents per share, in the year ended December, compared with a loss of 1.4 billion rand, or 77 cents per share, a year earlier, South Africa-based MTN said on Thursday.

Headline EPS is the main profit measure in South Africa and strips out certain one-off items. ($1 = 11.8355 rand) (Reporting by Tiisetso Motsoeneng; Editing by Subhranshu Sahu)

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