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General

Telkom experts underlying profits up in H1

Monday 3 November 2014 | 14:09 CET | News
South Africa's Telkom said it expects a decline in fiscal first half earnings due to a provision for job cuts. For the retrenchment and voluntary severance and retirement packages, the operator will take a charge of about ZAR 234 million after tax, whereas in the prior-year period it booked a gain of ZAR 1.17 billion on a change in pension benefits. As a result, the company expects a 55-60 percent annual decline in basic EPS to ZAR 3.11-3.68 and a 60-70 percent fall in headline EPS to ZAR 3.90-4.55. Excluding the one-time items, EPS is expected to grow 80-90 percent to ZAR 1.12-1.27. The

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Categories: General
Companies: Telkom
Countries: South Africa
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