Vodacom listing hits Telkom earnings

Wednesday, 25 November 2009 00:00 Written by Nicola Mawson

UNBUNDLING VODACOM has hurt Telkom, says Absa Investments analyst Chris Gilmour.

In the half-year to September, headline earnings per share will be between 130% and 140% lower than last year, which will take it into a loss position. Once-off items affecting earnings include a goodwill impairment of R2.128 billion against Multi-Links Nigeria, and profit on the sale of Telkom Media of about R68 million.

Normalised headline earnings per share - adding back the once-off items - show a slightly better position, but are still expected to halve.



Tags: Telecoms  Business  

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