Ahead of the official release of its interim results scheduled for 6 August 2020, MTN has issued a trading statement confirming the appointment of outgoing CEO Rob Shuter as CEO of BT Enterprise, effective March 2021.

Rob Shuter is leaving MTN at the end of his contract in March 2021 to join UK’s BT Group.

Shuter will complete his fixed four-year contract until March next year, as announced earlier this year.

MTN noted the announcement issued today by BT Group Plc that Rob has been appointed as the CEO of BT Enterprise.

“Rob will relocate to the UK and start with BT Group Plc in 2021 after finishing at MTN. MTN thanks Rob for his contribution over the years and wishes him well in his new endeavours.”

According to MTN, the succession process is on track and an announcement is expected in the next 4 to 8 weeks.

In the statement, MTN expects growth in earnings per share of between 160% and 170%, with Headline Earnings Per Share (HEPS) growth of between 115% and 125%.

In its statement MTN added that HEPS benefited from non-operational items for the six months ended 30 June 2020 totalling approximately 46 cents per share (June 2019: 55 cents negative impact on HEPS) of which more than half related to foreign exchange gains.

The company added: “MTN has made meaningful progress in strengthening its financial position and maintaining a healthy liquidity position. In order to sustain this, and in line with MTN’s capital allocation framework, the board has decided not to declare a 2020 interim dividend in the context of the COVID-19 impacts and the material uncertainties these present. Should conditions warrant a final dividend, this would be no more than 390 cents per share, aligned to the current dividend policy. The key factors to consider will include the general macro-economic environment, the status of cash upstreaming from operating companies and the outlook for the holding company leverage ratio.”