About
Subscribe

Telkom to report profit surge

Johannesburg, 18 Oct 2004

Telkom is expecting to report a surge in earnings per share when it releases its latest interim results to the market next month.

The group says in a trading statement that it is finalising its results for the six months to 30 September.

It says it expects an increase of between 60% and 80% in basic earnings per share and between 50% and 70% in headline earnings per share for the period.

"The main difference between basic earnings and headline earnings is the impairment and write-offs relating to property, plant and equipment," it says.

Last year Telkom increased interim basic earnings from 115.6c a share to 298.5c a share, while headline earnings of 335.9c a share compared with 123.9c a share for the same period a year earlier.

Operating revenue of R20.11 billion was up from R18.32 billion for the previous comparable period.

Share