Telkom’s continuing operations to achieve double-digit earnings growth
JSE-listed Telkom on Wednesday said it expects to report a double-digit increase in earnings from its continuing operations for the year ended March 31.
Basic earnings per share (BEPS) and headline earnings per share (HEPS) from continuing operations are expected to be in the range of 679.2c and 735.8c and between 677.9c and 724.6c, respectively.
This equated to a 20% to 30% increase in BEPS and a 45% to 55% increase in HEPS, when compared with the BEPS of 566c and HEPS of 467.5c for the year ended 31 March 2025.
Telkom pointed out in a trading update that the earnings growth was primarily driven by a strong underlying operating performance, continued focus on structural cost optimisation and lower finance charges resulting from reduced debt levels.
“The prior year BEPS and HEPS from continuing operations were negatively impacted by the one-off expenses relating to the after-tax derecognition loss of the Telkom Retirement Fund of R451-million, or 91.9c a share, and restructuring costs of R117-million, or 23.8c a share.”
Further, the prior financial year HEPS excluded the gain on sale of properties of R654-million which was significantly higher than the R194-million recorded in the current year.
Incorporating total operations, BEPS declined by between 52% and 56%, while HEPS increased 24% to 33% in 2026, from the 1 528c and 544.5c respectively reported in the prior year.
Total operations included the gain on disposal of Swiftnet in the prior year which was disclosed as a discontinued operation and the sale was concluded in the 2025 financial year.
“The difference between BEPS and HEPS relates to the exclusion of the net profit on disposal of property, plant and equipment and intangible assets, which is offset by the net write-offs on property, plant and equipment and intangible assets.”
The group expects to publish its audited results for the 2026 financial year on June 2.
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