Telkom issues positive trading statement

South African telecommunications parastatal Telkom on Tuesday issued a positive trading statement in which it said it expects basic and headline earnings per share for the six months ended September to increase at least 20 percent.

"Shareholders are advised that Headline Earnings per Share and Basic Earnings per Share for the six months ended 30 September 2013 are expected to be at least 20 percent higher than those of the prior comparable period," the firm said.

Telkom, which in June wrote down the value of its network by R12 billion, pointed out the half-year results would be measured against the previous period that saw it incur a R389 million fine relating to anticompetitive behaviour.

The news saw company's share price jump to R27.62.

Telkom's interim results will be published on or about 18 November 2013.

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