happiness ChikwanhaCell C’s key shareholder Blue Label Telecoms has reported a profit of R226 million for its continuing operations for the year to end May, a major improvement from last year’s loss of R6,7 billion.
The group’s shares were trading 7 percent stronger at R2.99 yesterday morning after it released its results. Its share price has almost doubled from a 52-week low of R1,52 per share in March. In its audited results last Thursday, Blue Label said despite restrictions stemming from the
Covid-19 pandemic it was able to continue providing essential services such as electricity, airtime, data and other digital services, as well as financial transactional services.
“The lockdown regulations and the downturn in economic activity have not impacted negatively on airtime, data and electricity sales volumes. The group’s digital expertise has enabled uninterrupted access of all its products and services through banks, formal retailers, independent retailers, petroleum forecourts and spaza shops across South Africa,” it said.
Blue Label said its retail business, starter pack distribution, gaming vouchers and ticketing were negatively impacted during the initial lockdown period. — News24.com
Online Reporter