Telkom sees improved earnings
·18 Mar 2014
Telkom has advised that it expects headline earnings per share for the year ending March 2014 to be at least 20% higher than in 2013.
Shares in Telkom advanced 1.5% in midday trade on the JSE, to R31.27, showing a 52 week return of 129%.
The group said its pending results will be positively impacted by the net curtailment gain of approximately R2 billion recognised on the post-retirement medical aid liability and the related tax benefit of approximately R246 million.
The group said that results for the prior comparable period were negatively affected by:
- The R 12 billion non-cash impairment of assets;
- The provision for the Competition Commission fines of R592 million; and
- R434 million relating to the cost of voluntary severance and early retirement packages.
Telkom expects to publish its annual results on about 13 June 2014.
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