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Telkom forecasts drastic fall in profit

Telkom announced on Monday that basic earnings per share from continuing operations are expected to be between 95% and 100% lower than the comparative period for the year ended March 31.

Headline earnings per share (HEPS) from continuing operations were expected to be between 30% and 35% lower than that of the prior year, the company said.

Photo: Simphiwe Mbokazi. Credit: Independent Newspapers

The trading statement was in reference to a previous statement, released on March 30, wherein the company announced expected basic and headline earnings per share from continuing operations for the year ended March 31 to be at least 90% and 25% lower than the previous year, respectively.

“It should be noted that Telkom's results for the year ended March 31 2011 will be restated to reflect the entire investment in Multi-Links as a discontinued operation,” Telkom said.

The restated basic earnings per share from continuing operations for the year ended March 31 2011 will be 481.2 cents per share and the restated headline earnings per share from continuing operations will be 484.8 cents per share.

Telkom's results for the year ended March 31 will be released on or about June 8. - I-Net Bridge

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