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Telkom lifts year-end earnings

18th March 2014

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

  

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Telecommunications group Telkom on Tuesday said it expected to deliver 20% higher headline and basic earnings a share for the year ended March 2014.

The lift in earnings emerged as Telkom reported a R2-billion net curtailment gain recognised on the post-retirement medical aid liability and the related tax benefit of R246-million.

The year under review excluded the R12-billion noncash impairment of assets, the Competition Commission penalties of R592-million and the R434-million voluntary severance and early retirement package payouts, which sent the 2013 earnings plunging by 73%.

Telkom would publish its results for the year on June 13.

Edited by Creamer Media Reporter

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