Telkom has reported that its voluntary severance and retirement program has cost the company R1.52 billion, affecting 3,108 employees.<\/p>\n
In a trading statement released on Tuesday (3 November) the group reported that its headline earnings would be between 65% and 85% lower for the six months ended September 2015.<\/p>\n
This was largely due to the retrenchment process which was not part of normal business operations.<\/p>\n
Normalised headline earnings, however, would be between 5% lower and 15% higher, as the resultant employee expenses would be lower due to a lower headcount emanating from retrenchments.<\/p>\n
| Telkom earnings<\/th>\n | 30 September 2014<\/th>\n | Expected change<\/th>\n | 30 September 2015 expectation<\/th>\n<\/tr>\n | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Basic earnings per share<\/td>\n | 217.4<\/td>\n | 45%-65% lower<\/td>\n | 98cps – 141cps lower<\/td>\n<\/tr>\n | ||||||||
Normalised<\/em><\/td>\n| 263.2<\/td>\n | 10%-30% higher<\/td>\n | 26cps – 79cps higher<\/td>\n<\/tr>\n | Headline earnings per share<\/td>\n | 215.8<\/td>\n | 65%-85% lower<\/td>\n | 140cps – 183cps lower<\/td>\n<\/tr>\n | Normalised<\/em><\/td>\n | 261.7<\/td>\n | 5% lower -15% higher<\/td>\n | 13cps lower – 39cps higher<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n | The primary reason for the higher increase in normalised basic earnings per share (10% – 30% higher) when compared to normalised headline earnings per share (5% lower – 15% higher) is the higher gain on sale of assets in the current period, which are excluded from the calculation of headline earnings per share, Telkom said.<\/p>\n Telkom said it will release its results for the six months ended 30 September 2015 on or about Monday, 16 November 2015.<\/p>\n More on Telkom<\/h3>\nTelkom\u2019s new division Openserve announces fibre to 10,000 homes<\/a><\/strong><\/p>\n Telkom offers \u2018free\u2019 funeral cover<\/a><\/strong><\/p>\n Fibre players caught Telkom by surprise<\/a><\/strong><\/p>\n |