Telkom forecasts sharp drop in FY earnings

News General South Africa 2 APR 2012
Telkom forecasts sharp drop in FY earnings
South Africa operator Telkom expects its headline earnings per share for the year ended 31 March to drop by 25 percent. The group said basic earnings, which includes one-off items, would fall by 90 percent. Telkom attributed the decline to the disposal of its Nigerian unit Multi-Links, resulting in a loss of ZAR 950 million; a ZAR 550 million impairment on iWayAfrica; and depreciation of ZAR 670 million, reflecting the company's ongoing investment in the transformation of its network. Telkom also noted that its mobile business 8ta was expected to record a ZAR 2.2 billion loss before interest, taxes, depreciation and amortization. Telkom will publish its 2012 financial results in June.

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General

Companies:

Multi-Links,  Telkom,  8ta

Countries:

South Africa

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Voice services, Financial figures, Internet Access

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