RESULTS BEFORE INVESTMENTS
On the surface, a good-looking update from Telkom. HEPS are expected to be 20% higher, but when reading the whole SENS one can see that the numbers have been impacted by a number of non-operational issues, such as competition fines in the previous period, lower finance charges and “a review of the underlying assumptions for the determination of post-retirement benefits”. In other words, let’s wait for the actual results and see how the operational profits are doing, that’s the real profit investors should care about.
Telkom SA SOC