Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Telkom SA Drops to 8-Year Low on Profit: Johannesburg Mover

Telkom South Africa Ltd. plunged to the lowest in more than eight years after saying earnings excluding one-time items probably fell at least 25 percent for the year through March.

Shares in the Pretoria-based Telkom dropped 1.4 percent to 24 rand, the lowest since October 2003, at the 5 p.m. close in Johannesburg.

Africa’s largest fixed-line phone company said earnings excluding one-time items will be at least 25 percent lower than the prior year as it spent about 739 million ($96.4 million) firing workers and recorded a 1.5 billion rand loss on the sale and impairment of two businesses in the year.

Basic earnings per share from continuing operations will be at least 90 percent lower than the restated 4.85 rand per share last year, said Telkom.

The company, majority-owned by the South African government, will lose about 650 million rand on the sale of Nigerian unit Multi-Links Telecommunications Ltd., it said on Sept. 29.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.