Telkom cost cuts pay off as shares jump most in a single day
03 November 2020 - 11:39
A tight check on costs is poised to pay off for Telkom as the telecoms operator flagged higher earnings in the middle of the deepest economic downturn in generations.
Shares in Telkom, which is 40% owned by the government, logged their biggest one-day gain on Tuesday after the fixed-line operator said half-year earnings likely grew by almost a quarter as its aggressive cost-cutting push helped offset a barely growing top line...
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