Telkom says it expects headline earnings per share and basic earnings per share for the six months ended September 2013 to be at least 20% higher than the corresponding period in 2012.<\/p>\n
In the interim period in 2012, Telkom announced basic earnings per share of 85.2 cents, while headline earnings per share from continuing operations decreased by 35.5% to 191.7 cents.<\/p>\n
Shares in Telkom rallied 3.77% or R1, to R27.50 in afternoon trade on the JSE on Tuesday (8 October), having gained 5% to R26.50 on Monday after regulator, Icasa, announced plans to cut mobile termination costs dramatically<\/p>\n
Telkom noted that results for the prior comparable period were negatively affected by the provision for the Competition Commission fine of R389 million.<\/p>\n
Telkom made admissions to engaging in \u201cmargin squeezing\u201d against competitors, as well as excessive pricing.<\/p>\n
“The results for the period to be reported on will be positively impacted by lower finance charges and a review of the underlying assumptions for the determination of post-retirement benefits,” Telkom said.<\/p>\n
“The lower finance charges relate to foreign exchange and fair value gains following the weakening of the rand against major currencies,” it said in a trading statement.<\/p>\n
For the period ended September 2012, Telkom reported group operating revenue of R16.387 billion.<\/p>\n
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