Blue Label Telecoms : continues to deliver on its growth strategy
02/22/2012| 04:36am US/Eastern
Blue Label Telecoms continues to deliver on its growth
22 February 2012
Johannesburg, 22 February 2012: Blue Label Telecoms
today announced interim results for the half year ended 30
Joint CEO's Brett and Mark Levy said: We are once again
reporting solid growth for the 6 months ended 30 November, as
we steadfastly focus on expanding our product range and
distribution network, both locally and internationally.
Revenue increased by 7% to R9.2 billion.
Gross profit increased by R71 million to R590 million.
Overheads were contained at 6% growth.
EBITDA increased 47% to R438 million, which includes a
once-off income receipt of R79,4 million.
Net profit after tax and non-controlling interest from
continuing operations increased by 43% to R275 million.
Excluding the once-off income receipt of R79.4 million, the
increase was 7%.
Headline earnings per share increased by 44% from 25,45
cents to 36,74 cents per share. Excluding the once-off
income receipt of R79.4 million, the growth was 8%.
Cash resources increased to R2.3 billion.
Acquisition of Microsoft's 91,8 million shares in the
group for R391 million.
Continued focus on the marketing and distribution of prepaid
starter packs is expected to compound existing annuity
revenues, whilst commissions generated from prepaid
electricity sales on behalf of utilities are expected to
increase both organically and through contracts with
additional electricity providers.
Blue Label's mobile segment is expected to compound its
advertising revenue on bulk prepaid vouchers and point of
sale receipt vouchers.
On the international front, a strong foundation in Mexico has
been developed for an accelerated roll-out of point of sales
devices through the distribution capabilities of Grupo Bimbo,
co-shareholder of Blue Label Mexico.
Oxigen Services India is poised to embark on an aggressive
footprint expansion, which will incorporate banking services
that will service the vast unbanked population in
India. This initiative is being implemented through
associations with several banks in India, including State
Bank of India, the largest bank in the country.
The Levy's concluded: Our balance sheet remains robust
and liquid ensuring a solid platform for our growth.