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Telkom FY earnings fall 18.4% on higher tax rate

Telkom, which also provides ICT solutions, said headline earnings per share for the year ended March fell to 597 cents from 731.4 cents in the previous year.

FILE: Telkom Towers. Picture: Telkom website

JOHANNESBURG - Telkom SA, South Africa’s biggest landline provider, said on Monday full-year earnings declined 18.4%, mainly due to a significant rise in the effective tax rate.

Telkom, which also provides ICT solutions, said headline earnings per share for the year ended March fell to 597 cents from 731.4 cents in the previous year.

Headline EPS is the main profit measure in South Africa and strips out certain one-off items.

Group profit after tax declined 19.2% to R3.2 billion ($257.25 million).