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Telkom warms of lower earnings

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Telkom has warned shareholders that its earnings per share may be substantially reduced once its finalises its interim financial results for the six months ended 30 September, and which will be release on 19 November. 

The organisation draws shareholders' attention to previous cautionary statements and advises that the basic earnings per share and headline earnings per share   
are expected to be between 14% and 20% lower than the reviewed interim financial results reported for the comparable prior period.
It says there are a number of reasons why the earnings are depressed.
These include a marketing initiative to bundle services at discounted rates; increased investment in materials and maintenance of the network; higher depreciation; and a stronger rand affecting financial instruments.