Telkom has released its results for the year ended 31 March 2024, revealing strong profit growth and a significant reduction in capital expenditure.
“Better-than-expected positive free cash flow of R424 million was driven by improved operational performance and our measured approach towards capital expenditure this year,” he said.In June 2023, Telkom Group chief financial officer Dirk Reyneke said in an internal memo that the company planned to temporarily capex to save costs.Of its R6.1 billion capital expenditure during the financial year, R2.6 billion was invested in Telkom’s mobile business.
Telkom spent R278 million on network rehabilitation in 2023/24, up 48.7% from R187 million in 2022/23.
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