Telkom sees continued earnings slide

Telkom advised on Monday (8 April) that headline earnings per share for the year ended March 2013 are expected to be at least 20% lower than the 324.7 cents recorded in the prior year.

Shares in the group declined 1.79% in mid morning trade on the JSE to R14.43, valuing the company at R7.51 billion.

Telkom noted that it was required to publish a trading statement as soon as it had become reasonably certain that its financial results will differ by at least 20% from those of the previous corresponding period.

“An updated detailed trading statement will be released prior to the announcement of the
results for the year,” it said.

In 2012, Telkom reported that its HEPS had decreased 33% to 324.7 cents.

Group operating revenue decreased by 0.7% to R33.079 Billion in the year ended March 2012.

In a statement in June 2012, Telkom said that its financial position remained strong, with net debt, after financial assets and liabilities, from continuing operations down by 19.8% to R3.933 billion.

On 31 March 2012, the group reported cash balances of R1.165 billion, from R1.773 billion in 2011.

Last month, Telkom appointed Sipho Maseko as the group’s  new CEO. The telco also announced the appointment of Dr Brian Armstrong as group chief operating officer.

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Telkom sees continued earnings slide