June 22, 2020 / 5:44 AM / 13 days ago

BRIEF-Telkom SA SOC FY Reported HEPS 208.1 Cents, Withdraws Medium-Term Targets In FY2021

June 22 (Reuters) - Telkom SA SOC Ltd:

* COVID-19 IMPACTED LAST TWO WEEKS OF FY2020

* FY CUSTOMER BASE UP 23.9% TO 12 MILLION WITH NET ADDITIONS OF 1.9 MILLION

* COVID-19 HAS BEEN CONCLUDED AS AN ADJUSTING POST BALANCE SHEET EVENT FOR COMPANIES WITH A YEAR END OF 31 MARCH 2020

* WE WILL CONTINUOUSLY ASSESS CAPEX SPEND IN LINE WITH REVENUE FORECASTS

* FOUND IT PRUDENT TO SUSPEND DIVIDEND POLICY FOR NEXT THREE YEARS FROM FY2021

* FULL BENEFITS OF TWO-PHASE RESTRUCTURING PROGRAMME ARE EXPECTED TO FLOW IN OVER NEXT 12 TO 24 MONTHS.

* WITHDRAWAL OF MARKET GUIDANCE

* MANAGEMENT WILL CONTINUE TO EXERCISE DISCIPLINE IN ALLOCATING CAPEX

* TO WITHDRAW OUR MEDIUM-TERM TARGETS IN FY2021

* FY GROUP REVENUE GREW 3.0% TO R43.0 BILLION DESPITE A 22.2% DECLINE IN FIXED VOICE REVENUE

* FY REPORTED HEPS DECREASED 66.4% TO 208.1 CENTS PER SHARE

* OVER NEXT THREE YEARS, CAPITAL WILL BE REDIRECTED TO ACQUISITION OF SPECTRUM AND TO COMPLETE KEY CAPEX PROGRAMME

* FY REPORTED BEPS DECREASED 78.4% TO 121.1 CENTS PER SHARE

* BOARD DECLARED A FINAL ORDINARY DIVIDEND NUMBER 26 OF 50.08410 CENTS PER SHARE Source text for Eikon: Further company coverage:

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