Telkom has warned shareholders that it expects its results for the 2012 financial year, ended 31 March, to reflect a sharp decline in both basic and headline earnings.
According to a statement published on the JSE’s Sens news service on Monday afternoon, the telecommunications group expects headline earnings per share from continuing operations to decline by between 30% and 35% compared to 2011.
In a trading statement issued at the end of March, it said it expected the number to decline by at least 25%.
Basic earnings per share, meanwhile, are expected to decline by between 95% and 100% over the 2011 financial year.
Telkom says its results for the 2011 year will be restated to reflect the entire investment in the failed Nigerian Multi-Links business as a discontinued operation.
“The restated basic earnings per share from continuing operations for the year ended 31 March 2011 is 481,2c/share and the restated headline earnings per share from continuing operations is 484,8c/share.”
Telkom will publish its annual results on Friday and, unlike at its interim results last year, will hold an analyst and media presentation to discuss the numbers.
The company’s share price was trading up just over 1% in late afternoon trading on Monday after a brutal sell-off on Friday when it announced that cabinet said it would not give its approval for a plan to sell 20% of Telkom’s equity to Korea’s KT Corp. — (c) 2012 NewsCentral Media
