Upstream Connect

Telkom issues major profit warning — headline earnings plummets up to 105%

Telkom has warned shareholders that it expects an 85% to 105% decline in headline earnings per share when it reports its results for the 2022/23 financial year next month.

This translates to an expected headline earnings range of 28.8 cents per share loss to 86.3 cents per share profit.

Even when normalized to take into account once-off restructuring costs, Telkom forecasts headline earnings 60%–80% lower than last year.

Its basic earnings look even worse, with Telkom warning shareholders to expect a 465% to 485% drop, translating to a R19.59 to R20.66 loss per share.

Normalized for its once-off restructuring costs, Telkom said its basic earnings will still be 70%–90% lower than last year.

View original post