For the six months ended 30 November 2022, Blue Label Telecoms has reported revenue of R9,8-billion, with an increase in gross profit of 13% to R1,54-billion (2021: R1,36-billion).

The core businesses of the Blue Label Group continued to generate further growth in revenue, gross profit and core headline earnings per share for the six-month period ended 30 November 2022. The predominant extraneous contributions to the November 2022 basic, headline and core headline earnings per share, emanated primarily from the recapitalization transaction of Cell C.

In the comparative period, core headline earnings amounted to R549-million, of which R548-million related to continuing operations and R1 million to discontinued operations. Core headline earnings amounted to 62.69 cents per share.

Excluding the extraneous contributions of R421-million in the current period and non-recurring income of R148 million in the prior period, as illustrated in the underlying tables, core headline earnings increased by R55 million (14%) from R400 million to R455 million. Core headline earnings per share increased by 13% from 45.68 cents per share in the prior period to 51.72 cents per share.

Earnings per share amounted to negative 8.74 cents per share. In the prior period, earnings per share amounted to 60.71 cents per share, of which 60.59 cents related to continuing operations and 0.12 cents to discontinued operations.

Excluding the extraneous contributions and non-recurring income in both the current and prior periods, earnings per share and headline earnings per share increased by 14% to 49.66 cents per share and 49.86 cents per share, respectively.

Group revenue increased by R710-million (8%) to R9,8-billion. As only the gross profit earned on PINless top-ups, prepaid electricity, ticketing and gaming are recognised as revenue, on imputing the gross revenue generated thereon, the effective growth in revenue equated to R3,1-billion (9%) from R36,2-billion to R39,3-billion.

Gross profit increased by R179-million (13%) from R1,36-billion to R1,54-billion, congruent with an increase in margins from 14,93% to 15,67%.

Editor@tech-talk.co.za