Shareholders of Telkom are referred to the trading statement released on the Stock Exchange News Service of the JSE Limited on 10 October 2014 whereby Shareholders were advised that the results to be reported on for the six months ended 30 September 2014 would be at least 20% lower than those of the prior corresponding period.
The results to be reported on include the following items that are not part of the results from normal business operations:
Reported and normalised earnings for the six months ended 30 September 2014 are expected to differ from the prior corresponding period as indicated below:
30 September 2013 Reported |
30 September 2014 Expectation |
||
---|---|---|---|
Basic earnings per share | |||
Reported | 566.2 | 55%-65% lower | 311cps - 368cps lower |
Normalised | 140.6 | 80%-90% higher | 112cps - 127cps higher3 |
Headline earnings per share | |||
Reported | 649.8 | 60%-70% lower | 390cps - 455cps lower |
Normalised | 224.2 | 10%-20% higher | 22cps - 45cps higher |
The increase in normalised basic earnings for the six months ended 30 September 2014 are mainly as a result of:
This was partially offset by:
The main reason for the higher increase in normalised basic earnings per share (80% - 90% higher) when compared to the increase in normalised headline earnings per share (10% - 20% higher) is the asset impairments and write offs in the prior period which are excluded from the calculation of headline earnings per share.
Telkom will release its results for the six months ended 30 September 2014 on 17 November 2014.
This updated trading statement has neither been reviewed nor reported on by the Group's external auditors.
Pretoria
03 November 2014
Sponsor
The Standard Bank of South Africa Limited