Telkom boss sells R10.8m worth of shares

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Sipho Maseko, Telkom Group CEO.
Sipho Maseko, Telkom Group CEO.

Telkom Group CEO Sipho Maseko has sold shares worth R10.8 million.

In a SENS statement, the telecoms firm confirms Maseko sold 112 368 shares at a price of R93.72 per share.

“The above transaction was done on market. Clearance to deal was received in terms of paragraph 3.66 of the listings requirements of the JSE,” notes the statement.

Last month, Telkom’s financial results, for the year ended 31 March, showed strong gains, with headline earnings per share increasing by 22.6% to 722cps. The group declared a final dividend of 249c, taking the annual dividend to 362c, an increase of 2% year-on-year.

Telkom saw group operating revenue increase by 5.3% to R41.8 billion, driven by the mobile business where mobile services revenue grew by 58.3%, to R8.2 billion, underpinned by the group’s broadband-led proposition.

BCX’s IT revenue and Gyro’s external revenue also contributed positively to the group revenue, with a growth of 6% and 24% respectively.

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