Telkom turnaround strategy paying off
by SAVIOUS KWINIKA
PRETORIA – TELKOM, the South African telecommunications provider, said its turnaround strategy remained on track.
The company has presented positive interim results for the six months ended 30 September 2014 with key highlights including Group EBITDA excluding one-off items increased by 12,1 percent to R4,4 billion, headline earnings per share excluding one-off items increasing 14.9 percent to 261,7 cents.
Net revenue increased 1,6 percent to R13, 3 billionperating expenses, excluding depreciation and one-off items, decreased 2,4 percent to R9,2
“Our results for the first six months of the 2015 financial year confirm that the business is on track for future growth. Our multi-year turnaround strategy, which began in 2013, is paying off,” said Sipho Maseko, Group Chief Executive Officer of Telkom.
He said the company expected that this positive momentum would continue for the remainder of the financial year.
“We will continue to accelerate the positive momentum achieved in the past six months of the financial year.
“We are focused on improving customer service and are committed to stabilising Telkom to build a better future,” added Maseko.
He was nonetheless aware of the significant challenges that lay ahead for the next six months, including the continuous decline in our fixed voice revenue, self-provisioning by other licensed operators and the need to improve its service offering.
– CAJ News
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