Telkom has flagged record strong earnings growth for the half year ended September 2021, as the trading environment remains challenging.

“Telkom expects to sustain its top-line revenue compared to the prior year and grow its profitability slightly ahead of revenue,” the group said.

The group said headline earnings per share is expected to increase by up to 35 percent and basic earnings per share were likely to jump by up to 30 percent compared to a year earlier.

“This was mainly due to a significant decline in finance charges, fair value movements and foreign exchange losses compared to the prior period,” it said.

Telkom informed shareholders last month it was pursuing a separate listing of Swiftnet, the group’s masts and towers business, on the JSE.

Swiftnet is a Telkom subsidiary under management by Gyro. It is South Africa’s largest independently-run tower portfolio given its 6 225 masts and towers. The interim financial results are expected to be released on November 9.

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