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Telkom Reports Largest Non-Mining South Africa Company Loss

Telkom SA SOC Ltd. said full-year losses widened more than fifty-fold to 11.6 billion rand ($1.17 billion) after it wrote down the value of its assets, making it the biggest loss by a South Africa-based non-mining company.

The net loss for the year through March compared with 216 million rand a year earlier, the Pretoria-based company said in a statement today. Earnings per share after one-time items fell 73 percent to 87 cents.