
Fixed line telecommunications provider Telkom reported a decline in revenue for the year ended March 31.
The firm said during the period that operating revenue decreased by 0.7% to R33.1 billion.
Telkom also said that headline earnings per share declined 33% from the previous year, mainly as a result of the investment made to its mobile business 8ta, and an additional R605 million investment in network infrastructure.
Company chief executive Nombulelo Moholi said the financial performance was a reflection of the challenges the company faced.
“Telkom faces many challenges at the moment, but we will stay calm, determined and focused on delivering on the promise of our business and our strategy going forward.
"Group financial results for the year under review were not good. We have taken several significant steps towards securing a successful future for Telkom,” said Moholi.
However, the company said several significant opportunities have emerged.
Among them are the prospects of growth in data communication and growth in the proliferation of affordable smart phones.
The need for ICT products and services in the enterprise environment is expanding and the superior quality of fixed-line broadband will continue to unlock commercial potential.
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