{"id":11253,"date":"2012-06-08T11:03:53","date_gmt":"2012-06-08T09:03:53","guid":{"rendered":"http:\/\/www.myza.co.za\/06\/update-1-s-africas-telkom-suspends-div-as-profit-falls\/"},"modified":"2012-06-08T11:03:53","modified_gmt":"2012-06-08T09:03:53","slug":"update-1-s-africas-telkom-suspends-div-as-profit-falls","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-1-s-africas-telkom-suspends-div-as-profit-falls\/","title":{"rendered":"UPDATE 1-S.Africa&#8217;s Telkom suspends div as profit falls"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* FY Headline EPS down 33 pct<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Suspends dividend payment from this year<\/p>\n<p> (Adds details)<\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG, June 8<\/span> (Reuters) &#8211; South Africa&#8217;s Telkom<br \/>\n, hit by tough competition and burdensome costs from its<br \/>\nnew mobile arm, posted a one-third drop in full-year profit and<br \/>\nsuspended its dividend.<\/p>\n<p><span><\/span><\/p>\n<p>The biggest fixed-line phone operator in Africa said<br \/>\nheadline earnings per share fell to 324.7 cents in the year<br \/>\nended March from 484.8 cents a year earlier.<\/p>\n<p><span><\/span><\/p>\n<p>The company, whose top shareholder is the government, said<br \/>\nit would suspend dividend payments from this year as it faces a<br \/>\ncash shortfall.<\/p>\n<p><span><\/span><\/p>\n<p>Telkom&#8217;s recently-launched mobile unit has been struggling<br \/>\nto keep up with bigger Johannesburg-based African mobile<br \/>\noperators MTN and Vodacom.<\/p>\n<p><span><\/span><\/p>\n<p>The government recently turned down a $385 million offer for<br \/>\na 20 percent stake in the company from South Korea&#8217;s KT Corp<br \/>\n. The cash injection from the deal would have helped<br \/>\nthe struggling firm in its plan to turn around, analysts have<br \/>\nsaid.<\/p>\n<p><span><\/span><\/p>\n<p>The deal included an issue of new shares for KT, which would<br \/>\nhave reduced the government&#8217;s shareholding to below the 50<br \/>\npercent it holds jointly with a government-run pension scheme.<\/p>\n<p><span><\/span><\/p>\n<p>Telkom shares are down nearly 30 percent this year, compared<br \/>\nwith a 6 percent rise in the All-Share index.    \t<\/p>\n<p> (Reporting by Helen Nyambura and Tiisetso Motsoeneng; Editing<br \/>\nby David Cowell)<\/p>\n<p><span><\/span><\/p>\n<p class=\"copyright\">\n<p>         \t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"<p>* FY Headline EPS down 33 pct * Suspends dividend payment from this year (Adds details) JOHANNESBURG, June 8 (Reuters) &#8211; South Africa&#8217;s Telkom , hit by tough competition and burdensome costs from its new mobile arm, posted a one-third drop in full-year profit and suspended its dividend. The biggest fixed-line phone operator in Africa [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-11253","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/11253","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=11253"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/11253\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=11253"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=11253"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=11253"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}