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TKG 201605090031A
Trading Statement
Telkom SA SOC Limited
Registration number 1991/005476/30)
JSE share code: TKG
ISIN: ZAE000044897
("Telkom" or “the company”)
Trading Statement
Shareholders are advised that Telkom is currently finalising its
results for the twelve months ended 31 March 2016, which will be
released on the Stock Exchange News Service (“SENS”) of the JSE
Limited (“JSE”) on or about 06 June 2016.
In accordance with paragraph 3.4(b) of the Listings Requirements
of the JSE, shareholders are advised that reported headline
earnings per share (HEPS) is expected to decrease by 40% to 50%
when compared to the prior corresponding period. The reported
basic earnings per share (BEPS) are expected to decrease by 20%
to 30%.
The 31 March 2016 results to be reported on includes the impact
of the company’s voluntary early retirement (VERP) and voluntary
severance packages (VSP) offered to employees over the twelve
month period of approximately R2.2 billion with a related tax
impact of approximately R500 million that are not considered
results from normal business operations. During the period,
approximately 4200 employees accepted VERPs or VSPs.
On a normalised basis, i.e. excluding the impact of voluntary
early retirement and voluntary severance packages and the related
tax benefit, HEPS is expected to increase by 10% to 20% and BEPS
is expected to increase by 30% to 40%.
The main difference between BEPS and HEPS is increased profit
from the sale of property recorded during the twelve months to
31 March 2016.
31 March
2015
As Expected 31 March 2016
previously
reported
(cents)
Basic earnings per share
20%-30% 122 to 183 cps
Reported 607.7 lower lower
Normalised 584.1 30%-40% 175 to 233 cps
higher higher
Headline earnings per
share
31 March
2015
As Expected 31 March 2016
previously
reported
(cents)
Reported 597.9 40%-50% 239 to 299 cps
lower lower
Normalised 574.3 10%-20% 58 to 115 cps
higher higher
The above earnings guidance includes the performance of Business
Connexion (BCX), which has been incorporated for seven months.
The above information has not been reviewed nor reported on by
Telkom’s independent external auditors. The Group's results for
the twelve months ended 31 March 2016 will be released on SENS
on or about 06 June 2016 with a presentation in Johannesburg on
the same day. The presentation will be available for all
stakeholders on the Group's website, www.telkom.co.za/ir.
Centurion
09 May 2016
Sponsor
The Standard Bank of South Africa Limited
Date: 09/05/2016 03:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
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