Telkom claws its way back to profit

In its financial results for the year ended 31 March 2024, the group said that its “data-led strategy” allowed it to grow mobile service revenue by 6.8% to R19 billion and surpass 20 million mobile subscribers.

The group also invested R6.1 billion towards network resilience, expanding its mobile network, modernising its fixed network infrastructure and improving skills and capability for ICT managed services. “From a loss position in the prior year, profit for the year also increased by more than 100% to R1.9 billion, boosted by the non-recurrence of once-off restructuring costs and lower depreciation, while higher interest rates increased net finance costs compared to the prior year,” said the group.

“The policy proposes a dividend payout range of 30% to 40% of free cash flow after taking into account capex investments. The dividend will be declared and paid on an annual basis, with a resulting dividend yield comparable with local telecommunications companies.”The group’s plan to operate as an infrastructure company is to grow by pooling its assets and capabilities as OneTelkom.

Source: News Formal (newsformal.com)

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