Group operating revenue from continuing operations increased 6.9% to 35.9 billion rand, while operating profit decreased by 29.6% to 6.4 billion rand.<\/p>\n
The group EBITDA margin decreased to 32.5% as at March 31, compared to 39.3% at March 31 2008, mainly due to an EBITDA loss of 226 million rand at Multi-Links and higher fixed-line operating expenditure which decreased the fixed-line EBITDA margin to 25.8% as at March 31 2009 (March 31, 2008: 36.3%).<\/p>\n
Telkom said the reduced earnings could be attributed to a decrease in operating profit due to a 19.5% increase in operating expenses (R4,881 million) and higher foreign exchange and fair value movements (R1,098 million) partially offset by a lower taxation expense (R987 million).<\/p>\n
Investments in Multi-Links and Africa Online were impaired by R462 million and 39 million rand.<\/p>\n
“The impairments were necessitated by the operating losses incurred by these operations and the deteriorating prevailing economic climate. Multi-Links reported a net loss of R1.76 billion (March 31, 2008: net profit of R33 million),” the fixed-line operator said.<\/p>\n
The group declared a dividend of 115 cents per share for the year. A special dividend of 260 cents per share was also declared.<\/p>\n