Shares in Telkom climbed greater than 3.5% on the JSE on Thursday morning after the telecommunications group mentioned its adjusted headline earnings per share (Heps) are anticipated to rise by as a lot as 60%.
In a buying and selling replace for the six months to end-September 2024, Telkom mentioned it has seen “continued sturdy demand” for its knowledge merchandise, with double-digit development in income from cell and fibre knowledge providers. Nevertheless, this will probably be offset by a continued decline in fastened voice and legacy knowledge merchandise, it warned.
“The group anticipates reporting improved monetary outcomes from whole operations for the primary half of the 2025 monetary yr, earlier than a R451-million after-tax cost regarding the termination of Telkom’s obligation of the outlined profit inside the Telkom Retirement Fund and the consequential derecognition of the corresponding funding plan asset recognised below IFRS accounting requirements.”
Reported Heps will probably be flat, within the vary of -5% to five% yr on yr, Telkom mentioned. Adjusted Heps development of between 50% and 60% “illustrate the underlying efficiency of the group’s operations, as internally managed, to evaluate the precise buying and selling efficiency”.
“This adjusted monetary info is the duty of the board, ready for illustrative functions, and due to its nature could not pretty current the monetary place, adjustments in fairness, outcomes of operations or money flows of the group as required for reporting functions.”
Telkom will publish its interim outcomes on 18 November. TechCentral will deliver its readers full protection on the day, together with an interview with CEO Serame Taukobong. – © 2024 NewsCentral Media
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