{"id":8796,"date":"2012-03-30T16:19:14","date_gmt":"2012-03-30T14:19:14","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=8796"},"modified":"2012-04-01T14:29:49","modified_gmt":"2012-04-01T12:29:49","slug":"telkom-share-price-tanks-after-lower-profit-forecast","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/telecommunications\/8796\/telkom-share-price-tanks-after-lower-profit-forecast\/","title":{"rendered":"Telkom share price tanks after lower profit forecast"},"content":{"rendered":"<p><a title=\"Company Information\" href=\"http:\/\/mybroadband.co.za\/vb\/showthread.php\/227037-Telkom\" target=\"_blank\">Telkom<\/a>\u2019s share price plummeted today (Friday 30 March 2012) after the company announced that it expects its headline earnings per share (HEPS) to fall by at least 25% for the year ending 31 March 2012.<\/p>\n<p>Basic earnings per share from continuing operations for the year ending 31 March 2012 are expected to be at least 90% lower than the prior year.<\/p>\n<p>Telkom said in a SENS statement that basic earnings per share from continuing operations are expected to be at least 90% lower than the prior year.<\/p>\n<p>Telkom further announced that headline earnings per share are expected to be at least 25% lower than the prior year.<\/p>\n<p>Telkom said that the decrease is mainly attributable to the recognition of a net loss of R950 million on the disposal of the Multi-Links foreign operation, and the impairment of iWayAfrica of approximately R550 million.<\/p>\n<p>8ta is also costing Telkom shareholders a lot of money. Telkom said that the EBITDA loss incurred by the mobile business (<a title=\"Company Information\" href=\"http:\/\/mybroadband.co.za\/vb\/showthread.php\/276092-8ta\" target=\"_blank\">8ta<\/a>) is approximately R2.2 billion.<\/p>\n<p>Telkom explained that these items will be partially offset by lower employee expenditure, as R739 million was spent on voluntary employee severance packages in the prior year.<\/p>\n<p>Telkom shares lost around 7% in early trade, but recovered some losses in the late afternoon and were trading at R23.80 (2.22% down) by 16:00.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Telkom&#8217;s share price plummeted today after the company announced that it expects its headline earnings per share to fall by at least 25%<\/p>\n","protected":false},"author":10,"featured_media":7050,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21],"tags":[26,65],"class_list":["post-8796","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-telecommunications","tag-headline","tag-telkom"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/8796","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=8796"}],"version-history":[{"count":6,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/8796\/revisions"}],"predecessor-version":[{"id":8803,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/8796\/revisions\/8803"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/7050"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=8796"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=8796"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=8796"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}