March 7, 2019 / 5:25 AM / 12 days ago

South Africa's MTN FY profit surges 85 pct

JOHANNESBURG, March 7 (Reuters) - MTN, Africa’s biggest mobile phone group, reported an 85 percent jump in annual earnings on Thursday, underscoring the group’s turnaround efforts from a devastating regulatory fine in Nigeria two years ago.

Headline EPS, the primary measure of profit in South Africa, came in at 337 cents in the year ended December, compared with 182 cents a year earlier.

The South African company agreed in 2016 to pay $1.7 billion over three years to settle a dispute over unregistered SIM cards in Nigeria. (Reporting by Tiisetso Motsoeneng; Editing by Subhranshu Sahu)

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