Telkom's profits bounce back and it hints of dividend return in 2025
SA's third-biggest mobile operator said on Monday a strong showing from its mobile and fibre businesses helped it improve both operating profits and margins in its 2024 year, hinting of a return of dividend in 2025.
Group revenue rose 1.6% to R43.2 billion in the year to end March and core profit just over 5% to R10 billion, the group said, with margins helped by more customers for its next generation products, and a decrease in the cost of equipment like handsets. The ICT group, which is valued at about R12.4 billion on the JSE, had a tough 2023, when it was hit by hefty write-downs of its legacy systems, frontloading of handset sale costs, and the effects of restructuring as it moved to cut more than a tenth of its workforce. Telkom has been pursuing a new digital strategy with"infrastructure at its core," which prompted hefty write-downs to its copper business.South Africans need to be in the know if we want to create a prosperous future.
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