The
company in a statement on Monday said it was expected to report a profit for
the 12 months ended December 31, 2017, Bloomberg reported.
According
to the report, the result compares with a headline loss of 0.77 rand a share
and a loss of 1.44 rand a share a year earlier. The company promised to give
more information once it had obtained more certainty on the profit range.
MTN is
working its way through a tumultuous period triggered by the Nigerian penalty
in October 2015 which led to the resignation of its chief executive officer and
months of negotiations before it was eventually settled.
A fine
of N1.3tn was imposed on the network provider by the Nigerian Communications
Commission after it missed a deadline to disconnect 5.1 million unregistered
lines amid a security threat in the country.
After
several negotiations, the fine was reduced to N780bn in December 2015, and it
was further reduced in June last year to N330bn, with its payment spread over
three years. As of March 2017, the company had already paid a total of N110bn
of the N330bn fine.
The
remaining payments to be made in tranches are N55bn by March 31, 2018; N55bn by
December 31, 2018; another N55bn by March 31, 2019 and a balance of N55bn
latest May 31, 2019. (Punch)
Hmmm!!! Folks, have you ever
imagined how the financial status of your firm will be when more than 20,000
CEOs and other key decision makers of blue-chip corporations pay for your
products and services or even give you very juicy deals. The link below will
tell you more: http://www.tectono-business.com/2015/07/tectono-business-review-in-conjunction_21.html
Have you heard this? Many
Nigerian exporters have been defrauded of huge amount of money in the process
of exporting commodities to foreign countries. Do you know why? They were not
trained on export operations, management, documentations and the best methods
of payment in export trade. This is terrible!!! Nigerians cannot continue to
lose money to foreigners in the course of export business. Exporters, why don’t
you get a practical manual that teaches the stages of export trade from
processing and packaging of commodities to receipt of payment by the foreign
buyers. It teaches export operations, export management, export documentations
and methods of payment in export trade? It is a contemporary step-by-step guide
to export trade. It tells all the contemporary dynamics in export trade. To get
it, click on the link below:
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