Blue Label Telecoms on Friday revealed its outcomes for the six months ended November 2020, displaying a 15% slide in income to R9.6 billion.
Gross revenue declined by 3% from R1.17 billion to R1.14 billion, partially restricted because of a rise in margins from 10.33% to 11.87%.
Regardless of the affect of Covid-19 and basic financial challenges, core headline earnings for the interval ended November 2020 amounted to R376 million (-4%), equating to core headline earnings of 42.70 cents per share, of which R351 million associated to persevering with operations and R25 million to discontinued operations.
On exclusion of non-recurring earnings pertaining to international change beneficial properties of R22 million, core headline earnings from continued operations amounted to R329 million, equating to core headline earnings of 37.35 cents per share, Blue Label stated.
Earnings per share and headline earnings per share elevated from 34.83 and 39.98 cents per share within the comparative interval to 49.92 and 40.96 cents per share respectively within the present interval, the group stated.
The rise in primary earnings per share was primarily attributable to the disposal of Blue Label’s 47.56% curiosity in Blue Label Mexico in addition to a constructive motion from a damaging contribution by the retail division of the WiConnect shops within the comparative interval to a partial recoupment of losses within the present interval.
A call was made to stop the operations of the WiConnect retail shops within the prior monetary 12 months.