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TELKOM SA SOC LIMITED - Trading statement

Release Date: 27/10/2016 14:30
Code(s): TKG     PDF:  
Wrap Text
Trading statement

Telkom SA SOC Limited
Registration number 1991/005476/30)
JSE share code: TKG
ISIN: ZAE000044897

("Telkom" or “the company”)


Trading Statement

In terms of paragraph 3.4(b) of the JSE Limited (“JSE”) Listing Requirements, companies are
required to publish a trading statement as soon as they have reasonable certainty that the
financial results for the next period to be reported upon differ by at least 20% from those of
the previous corresponding period.

Telkom is currently finalising its interim results for the six months ended 30 September 2016,
which will be released on the Stock Exchange News Service (“SENS”) of the JSE on 15
November 2016.

The prior period reported earnings were impacted by voluntary early retirement packages
(VERPs) and voluntary severance packages (VSPs) of R1 523 million with a tax benefit of
R446 million.

As a result, the reported headline earnings per share (HEPS) is expected to increase
between 370% and 390% when compared to the previous corresponding period. The
reported basic earnings per share (BEPS) is expected to increase between 205% and 225%.

On a normalised basis, i.e. excluding the impact of VERPs and VSPs and the related tax
benefit, HEPS is expected to increase between 10% and 30% and BEPS is expected to
increase between 0% and 20%.

The improved performance is due to our multi-year business transformation program.



                               30 September 2015                              30 September 2016
                              Prior period earnings    Expected growth        Expected earnings
                                     (cents)                 (%)                    (cents)

Basic earnings per share
    Reported                          110.4               205 – 225             336.7 to 358.8
    Normalised                        321.1                 0 – 20              321.1 to 385.2


Headline earnings per share
    Reported                          69.9                 370 - 390            328.5 to 342.5
    Normalised                        280.6                 10 - 30             308.6 to 364.7


The above earnings include the performance of BCX, which has been incorporated for six
months compared to one month in the prior period.
The above information has not been reviewed nor reported on by Telkom’s independent
external auditors. The Group's results for the six months ended 30 September 2016 will be
released on SENS on 15 November 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
27 October 2016

Sponsor
The Standard Bank of South Africa Limited

Date: 27/10/2016 02:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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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,
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