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Telkom earnings soar

Johannesburg, 28 Oct 2003

Telkom is to report an increase of at least 30% in earnings per share for the half-year to 30 September.

The group published a notice this morning saying that both earnings per share and headline earnings per share will be substantially higher than those of the year-earlier period.

Telkom says it is still finalising the results and expects to release them on 24 November.

In June, Telkom surprised the market by reporting a 4.9% increase in headline earnings per share to 314c. Analysts had expected a 4.4% decline to 286c a share.

The mobile business, consisting of Telkom`s 50% stake in cellular provider Vodacom, accounted for 22.3% of operating revenues, which totalled R37.6 billion.

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