https://www.engineeringnews.co.za
Financial|Equipment
Financial|Equipment
financial|equipment

Telkom expects H1 double-digit earnings increase

15th November 2023

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

     

Font size: - +

JSE-listed Telkom on Wednesday said it expected its reported basic earnings per share (BEPS) and headline earnings per share (HEPS) for the six months ended September 30 to increase by more than 20%.

HEPS is expected to increase to 186.1c to 199.4c apiece, a hike of between 40% and 50%, while BEPS is expected to increase by between 45% and 55% to between 190.8c and 204c during the first half of the year.

The company attributed the anticipated increase in earnings to improved revenue and earnings before interest, taxes, depreciation and amortisation performance.

“Growth in earnings has also been positively impacted by lower depreciation after asset impairments recognised in the 2023 financial year. This has been partially offset by higher net finance charges in the first half of the 2024 financial year, as well as the nonrecurrence of a R102-million gain on foreign exchange and fair value movements recognised in the first half of the 2023 financial year,” Telkom said in a trading update.

Total depreciation, amortisation and write-offs decreased by about 20% from R3.55-billion in the prior period and net finance charges increased by about 50% from R655-million in the prior period, largely owing to lending rate increases, as well as a higher net debt balance.

The half-year results will be published November 21.

Meanwhile, the group restated its HEPS for the period ended September 30, 2022.

“On September 30, 2022, the group correctly calculated and accounted for tax in the group statement of profit or loss and other comprehensive income. However, the group incorrectly adjusted for the headline earnings, relating to the profit on disposal and impairment of property, plant and equipment and intangible assets. This led to a R21-million overstatement of headline earnings and a 4.3c overstatement of HEPS for the period”.

Edited by Creamer Media Reporter

Comments

Showroom

Rentech
Rentech

Rentech provides renewable energy products and services to the local and selected African markets. Supplying inverters, lithium and lead-acid...

VISIT SHOWROOM 
Showroom image
Alcohol Breathalysers

Supplier & Distributor of the Widest Range of Accurate & Easy-to-Use Alcohol Breathalysers

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine video image
Magazine round up | 01 March 2024
1st March 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.336 0.417s - 168pq - 2rq
Subscribe Now