Cell C earned R928 million for Blue Label Telecoms
Blue Label Telecoms has released its results for the six months ended 30 November 2017, which showed it increased revenue to R13.5 billion. When taking into account revenue from PIN-less top-ups, this translates to a revenue increase of 10%, said Blue Label. Core headline earnings were R1.36 billion, which included Blue Label’s share of the profits in Cell C, amounting to R928 million.
Of this, R865 million pertained to the recognition in a deferred tax asset.
The earnings also include its share of 3G Mobile’s profits, amounting to R36 million.
In addition to growth in revenue and headline earnings, Blue Label achieved the following results:
- Increase in earnings per share of 110% to 167.43 cents.
- Increase in headline earnings per share of 109% to 166.68 cents.
- Increase in core headline earnings per share of 108% to 168.42 cents.
- Increase in cash generated from operating activities to R3.1 billion.