Telkom shares plummeted 15-percent on Wednesday morning after it announced that its profits are likely to drop significantly in its next annual results.
The telecoms company is flagging impairment charges, restructuring costs and tax charges. It also says rising living costs have lowered demand for some products. The ongoing power cuts are not helping.
In February, the company also announced that it would cut up to 15-percent of its staff to lower costs and retain more earnings.
Source: eNCA
In other news – Actress Thando Thabethe slams Dr. Nandipha
South African actress, radio presenter, and businesswoman, Thando Thabethe has joined the masses in questioning Dr. Nandipha Magudumana‘s actions during her shocking virtual court appearance.
As if her being granted a virtual court appearance was not enough to irk Mzansi as a whole, her being all smiles and giggles sent many over the edge – including actress and reality TV star Thando Thabethe. Learn more
