Telkom has advised that its headline earnings per share from continuing operations for the six months ending September 2012 are expected to be at least 65% lower than the prior comparative period.<\/p>\n
HEPS from continuing operations for the six months ended September 2011 stood at 191.7 cents, 35.5% lower than in 2010.<\/p>\n
Telkom advised shareholders that basic earnings per share from continuing operations for the six months ending 30 September 2012 is expected to be at least 45% lower than in 2011.<\/p>\n
\u201cThe lower earnings are mainly attributable to an increase in the provision for Competition Commission fines relating to transgressions of the company dating back approximately 10 years.”<\/p>\n
“The operational performance for the period up to 31 August 2012 has been further characterised by flat revenue and operating cost that escalated just below inflation,\u201d it said in a statement.<\/p>\n
For the six months ending 30 September 2011, Telkom reported operating revenue down 3.2% to R16.4 billion, while basic earnings per share decreased 70.8% to 85.2 cents per share.<\/p>\n
In August, the Competition Tribunal imposed penalty of R449 million on Telkom in its case against the South African Value added Networks Services (SAVA).<\/p>\n
Telkom,<\/a> however, said it would appeal the fine imposed for abusing its dominance in the telecommunications market between 1999 and 2004.<\/p>\n On Wednesday (19 September), the Department of Communications (DoC<\/a>) presented a list of three strategic options for Telkom to cabinet, having blocked a deal between the incumbent telecoms provider and Korea based\u00a0KT Corp<\/a>\u00a0in June.<\/p>\n Telkom is expected to announce its results on November 19, 2012.<\/p>\n Related article<\/strong><\/p>\n Telkom to appeal R449m fine<\/strong><\/a><\/p>\n