Telkom’s shares have made a recovery over the past month, trading at R19.22 on the JSE at 12h25 on Friday (12 July 2013) – this after reaching an all-time low of R11.93 on 6 May.
In June, Telkom reported a 73.2% decline in headline earnings per share to 87.0 cents in results for the year ended March 2013.
Group operating revenue decreased by 1.7% to R32.501 billion (2012: R33.079 billion).
According to Telkom, for a considerable time the price at which its shares have been trading at has been significantly lower than the net asset value (NAV) of a Telkom share.
On 30 September 2012, the NAV per share was R57, Telkom said.
After the recent impairment charge of R12 billion on its network, Telkom said that the net asset value per Telkom share is R34 – 44% lower than its current trade price.