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Telkom expects earnings to be higher

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Telkom expects its earnings to be higher for the financial year ended 31 March, according to trading statement from the company.

The prior year’s reported earnings were impacted by voluntary severance packages (VSPs)

and voluntarily early retirement packages (VERPs) of R2,193-billion with a related tax benefit

of R517-million, while the current year impact is significantly lower at R66-million with a related

tax benefit of R13-million.

As a result, the reported headline earnings per share (HEPS) is expected to increase between

110% and 130% when compared to the prior year. The reported basic earnings per share

(BEPS) is expected to increase between 60% and 80%.

Excluding the impact of VSPs and VERPs and the related tax benefit, HEPS is expected to

increase between 0% and 20% and BEPS is expected to be between 10% lower and 10%

higher than the prior year.