Telkom Swings To R1.9bn Profit From R10bn Loss

34 Days(s) Ago    👁 41
telkom swings to r19bn profit from r10bn loss

Nicola Mawson

Telkom, the third-largest telecoms company in South Africa, has reported a profit of R1.9 billion in the year ended March 31, 2024, up from a loss of nearly R10bn the previous year, partially because it had booked a R13bn impairment in 2023 because of its legacy copper business and these headwinds were now behind it.

Although headline earnings per share (HEPS), a key measure of profitability, gained 201.3% to 376 cents a share, Telkom did not declare a dividend for the fifth year in a row.

Instead, Telkom yesterday said it will be able to share cash with shareholders in the near term with the next 12-month period targeted as the first year-end to consider paying a dividend.

Telkoms new dividend policy is to pay out a range of 30% to 40% of free cash flow after considering capex investments.