JSE-listed Telkom expects a significant triple-digit decline in earnings for the year ended March 31, 2023, sending its shareprice plunging nearly 13% by mid-morning on Wednesday. Marginal revenue growth as the company migrates from legacy to new generation technologies; a deliberate upfront investment in working capital for handsets and equipment; the costs associated with the impact of accelerated loadshedding; and inflationary cost pressures all contributed to the decline in earnings for the year ended March 31, 2023.
