Telkom are expecting to report a year-on-year fall of at least 20 per cent in headline earnings per share (HEPS) for the year ending March 31, 2013.
In a statement for the Johannesburg Stock Exchange, the part government-owned ADSL provider said: “Shareholders are advised that Headline Earnings per Share (“HEPS”) for the year ended 31 March 2013 is expected to be at least 20% lower than the 324.7 cents of the prior year.”
The news comes less than two weeks after Telkom made the long awaited appointment of a new chief executive, in former Vodacom managing director Sipho Maseko, and less than a month after the confirmation of the new Telkom Mobile brand – an attempt to make bigger inroads into the mobile data market.
The company in March was also forced to deny rumours there could be up to 13,000 job cuts imminent.
In Telkom’s statement today they added: “An updated detailed trading statement will be released prior to the announcement of the results for the year. This statement will confirm a more specific range for HEPS and Basic Earnings per Share (“BEPS”).”
Telkom expect to publish their results for the financial year ending March 31, 2013, in the middle of June.
