Telkom chief executive officer, Sipho Maseko has cashed in on the group’s meteoric share price, offloading 112,368 of his shares, amounting to R10,800,531.
Shares in Telkom have seen a marked increase under Maseko’s leadership, up from around R60 at the start of the year alone – and giving the group a current market cap of nearly R50 billion.
In May the group reported a 5.3% jump in operating revenue for the year ended March 2019, spurred by strong growth in its mobile division.
Key salient features:
- Group operating revenue up 5.3% to R41.8 billion
- EBITDA up 8.5% to R11.3 billion
- Headline earnings per share was up 22.6% to 722.4 cents per share.
- Capex of R7.7 billion with capex to revenue ratio of 18.4%
- Final ordinary dividend of 249 cents taking the annual dividend to 362 cents, an increase of 2.0% year on year
However, the telco shed more than 2,000 permanent jobs over the reporting period – 12.5% of its workforce.