SA’s MTN approves $375 million share buyback after profit rise – Channel Africa

MTN Group's board approved a 6 billion rand ($375 million) share buyback after reporting a 21.3% rise in half-year adjusted profit. Adjusted HEPS increased to 793 cents from 654 cents, while reported HEPS fell 5.8% due to impairments and forex losses. MTN shares rose 4.61% following the announcement.

MTN Ghana reported 1H 2026 results. Total revenue rose 32.2% year-on-year to GH¢15bn, with profit after tax up 43.3% to GH¢5.1bn and EPS up 43.3%. Costs increased 21.6% to GH¢5.7bn. Capex was GH¢1.9bn, interim dividend GH¢0.12/share (+50%). Mobile Money revenue grew 23.3% and transaction value 44.4%.

MTN Ghana reported H1 2026 revenue up 32.2% year-on-year to GH¢15bn, driven by data demand and growth in digital financial services. Profit after tax rose 43.3% to GH¢5.1bn, with EPS up 43.3%. Costs rose 21.6% to GH¢5.7bn. Capex was GH¢1.9bn and interim dividend set at GH¢0.12/share, +50% YoY.

MTN Group said underlying earnings for H1 2026 are expected to rise 18% to 23% to 775-808 cents per share, despite a writedown tied to its 49% stake in Irancell and foreign exchange and hyperinflation losses. Reported EPS is forecast at 377-431 cents. MTN also noted IHS Towers shareholder approval for its planned takeover, with regulatory approvals pending.

Goldman Sachs initiated coverage of Vail Resorts (NYSE:MTN) with a Sell rating and $132 price target versus $148.36. The firm cited overestimated sustainable long-term growth, mature Epic Pass penetration, weaker pricing power, and reliance on harder-to-convert skiers. It noted 12-month revenue down 4.3% to $2.83B and EBITDA $745M, with earnings revisions lower.

MTN Group said in an interim trading statement it will write down its Iran-related assets, taking an impairment of 213 cents per share tied to its 49% Irancell equity holding. The company expects the move to reduce the share price by 20% to 30% and cut EPS to about R4 from R5.39 (1H 2025), citing geopolitical and economic conditions and the war in Iran.