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Telkom to report higher earnings

8th October 2013

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

  

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JSE-listed Telkom on Tuesday said that it expected an increase in earnings for the six months ended September 30.

The group, which would release its interim results on November 18, anticipated 20% higher headline and basic earnings a share than that of the comparative period the year before.

During the six months to September 2012, the telecommunications group posted headline earnings from continuing operations of 37.2c a share, mainly as a result of setting aside money for a R389-million Competition Commission-imposed fine, which Telkom had to pay for abusing its dominance in the telecommunications industry.

However, the six months under review were expected to be positively impacted by lower finance charges and a review of the underlying assumptions for the company's determination of its post-retirement benefits structure.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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