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Telkom jumps on profit forecast

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091010 Telkom is before the Competiton Tribunal on Monday - fighting against the Internet Solutions charges that were referred by the competition commission last year .photo by Simphiwe Mbokazi 7

Johannesburg - Shares in Telkom jump more than 5 percent as the fixed-line phone operator says full-year profit likely surged nine-fold thanks to cost cuts and the benefit of a hefty writedown the previous year.

Telkom is up 5.22 percent at 38.30 rand, giving up some of the gains after surging as much as 8 percent earlier. - Reuters

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