Telkom reports profit pressure as inflation and competition boil
Core profit fell 15.2% in the group's quarter to end-June, but subscriber numbers picked up and its fibre interests showed strength
SA's third-biggest mobile operator has flagged a more than double-digit fall in core profit for its first quarter to end-June, feeling continued pressure from its legacy fixed-line business, but also from hotter inflation and competition.
Group revenue fell 3.2% to R10.28bn to end-June, Telkom said on Tuesday, with core profit falling 15.2% to R2.33bn, and its fixed-line voice revenue by almost a fifth...
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