Telkom lifts year-end earnings
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.
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