Telkom on Monday (16 November) reported a marginal 1.2% rise in group net revenue to R13.5 billion for the six month period ended September 2015.<\/p>\n
Total revenue climbed to R17.2 billion, from R16.3 billion in the comparative period\u00a0 in 2014.<\/p>\n
The group reported a profit after tax of R606 million (September 2014: R1.1 billion), down 43.8% mainly as a result of voluntary early retirement and severance package costs of R1.523 billion for 3,108 employees in the current period, and R325 million in the comparative period for 406 employees.<\/p>\n
Operating profit slipped to R902 billion, from R1.6 billion before, with normalised profit after tax of R1.7 billion, from R1.3 billion, in 2014.<\/p>\n
“We managed to reduce operating costs by 2.3%. This reduction was largely driven by lower employee expenses and effective property management costs,” Telkom said.<\/p>\n
Highlights<\/strong><\/p>\n Challenges<\/strong><\/p>\n Improvements<\/strong><\/p>\n Telkom announced a final dividend of 245 cents for the period, made up of an ordinary dividend of 215 cents per share and a special dividend of 30 cents per share.<\/p>\n Telkom Group CEO Sipho Maseko said that during the first six months of the “The challenges we faced during the period included increasing competition and a soft economy,” he said.<\/p>\n \u201cThe challenges of intense competition, the soft economy and the evolutionary nature of the industry we find ourselves in will remain. As a result, the ongoing transformation of our business, from both a revenue and cost efficiency perspective, remains our key focus,\u201d said Maseko.<\/p>\n Telkom retrenchments cost R1.5 billion<\/a><\/strong><\/p>\n Telkom officially wants to buy Cell C<\/a><\/strong><\/p>\n Telkom offers \u2018free\u2019 funeral cover<\/a><\/strong><\/p>\n Fibre players caught Telkom by surprise<\/a><\/strong><\/p>\n\n
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\n2016 financial year, the company continued with its efforts to transform Telkom and stabilise revenue.<\/p>\nMore on Telkom<\/h3>\n