SA's third largest mobile operator Telkom reported on Wednesday it expects its earnings to at least double in its 2024 year as it bounces back from hefty writedowns. But it has also indicated it has seen improvements in its underlying business as well.
Normalised headline earnings per share are expected to jump by between 195% and 205% in the year to end March, the group said in a trading update, when it also reported its reported core profit grew by approximately 18%. Valued at R12.7 billion the JSE, Telkom had been hit hard in its 2023 year amid a shift to a new digital strategy that prompted hefty writedowns to its copper business, while it also moved to retrench about 15% of its staff. South Africans need to be in the know if we want to create a prosperous future. News24 has kept the country informed for 25 years, and we're about to enter a new chapter of fearless journalism.
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