MTN expects profits to fall up to 30% as Iran investment takes a hit

MTN Group is making more money from its core telecom business, but its profits are heading in the opposite direction. Africa’s largest telecom operator expects headline earnings per share to fall by as much as 30% in the first half of 2026, even as its underlying earnings rise by up to 23%.
The reason is Iran.
A large impairment on MTN’s 49% stake in Irancel l, an Iranian telecom operator, alongside foreign exchange losses and hyperinflation, is dragging down headline earnings despite stronger underlying performance, according to the company’s trading statement on Tuesday .
MTN’s underlying earnings are expected to rise by up to 23%, but a write-down on its Irancell investment, co...