Telkom’s profit more than halves as customers migrate to new tech
Revenue declined for the ICT services and telecom company
23 November 2022 - 08:27
The profit of ICT services and telecom company Telkom more than halved in its latest half-year results as it saw a drop in fixed, mobile and IT services revenue and consumers migrated to new technologies such as fibre and LTE.
The company, valued at R18.3bn on the JSE, reported on Wednesday in its results end-September that profit fell 52.9% year on year to R641m and headline earnings per share (HEPS), a profit measure that strips out impairments and one-off items, fell 51.9% to 137.2c...
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