Telkom CEO offloads R11 million in shares

28 June 2019

Mergers, Acquisitions and Financial Results

Telkom Chief Executive Officer, Sipho Maseko has cashed in on the group’s meteoric share price, offloading 112,368 of his shares, amounting to R10,800,531.

Shares in Telkom have seen a marked increase under Maseko’s leadership, up from around R60 at the start of the year alone – and giving the group a current market cap of nearly R50 billion.

In May the group reported a 5.3% jump in operating revenue for the year ended March 2019, spurred by strong growth in its mobile division.

Key salient features:

   Group operating revenue up 5.3% to R41.8 billion

   EBITDA up 8.5% to R11.3 billion

   Headline earnings per share was up 22.6% to 722.4 cents per share.

   Capex of R7.7 billion with capex to revenue ratio of 18.4%

   Final ordinary dividend of 249 cents taking the annual dividend to 362 cents, an increase of 2.0% year on year

However, the telco shed more than 2,000 permanent jobs over the reporting period – 12.5% of its workforce.

Source: Business Tech