Telkom HEPS expected to increase by 20%

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Africa’s largest integrated communications company stated that they expect their headline earnings per share and basic earnings per share to be 20 per cent higher than those of the prior comparable period. 

(READ MORE: Telkom reports positive results, declining fixed voice business a worry)

“The results for the year to be reported on will be positively impacted by the net curtailment gain of approximately 2 billion rand recognised on the post-retirement medical aid liability and the related tax benefit of approximately 246 million rand,” [DATA TKG:Telkom SA SOC Limited] said in a statement.

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The group’s results for the 2012 period were affected by a number of events, such as a 12 billion rand in non-cash impairment of assets as well as 592 million rand in fines charged by the Competition Commission, who accused Telkom of abusing its dominance in the telecoms market between 1999 and 2004.   

The company also incurred a 434 million rand cost of voluntary severance and early retirement packages.

(READ MORE: Consultation crucial over potential Telkom retrenchments)

The group’s annual results are expected to be published on or about the 13 June 2014.