South Africa’s Telkom flags 70% fall in annual earnings

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People practice social distancing as they queue outside a Telkom branch during the coronavirus disease (COVID-19) outbreak in Johannesburg, South Africa, June 2, 2020. REUTERS-Marius Bosch

South African telecom firm Telkom predicted an up to 70% fall in annual earnings on Monday due to once-off costs relating to job cuts and impairments.

Telkom said it expects headline earnings per share, the main profit measure in South Africa, to tumble by between 65% to 70% for the full-year ended March 31.

It will announce its results on June 22.

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(The Nation)

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