Blue Label Telecoms has launched its interim outcomes for the six months ended 30 November 2021, displaying a 20% enhance in gross revenue from R1.14 billion final 12 months to R1.36 billion.
Its gross revenue margin additionally elevated from 11.87% to 14.93%, and it generated income of R9.1 billion.
The corporate reported producing optimistic money flows of R862 million from its working actions.
Blue Label diminished interest-bearing debt from R2.32 billion final 12 months to R1.97 billion.
Headline earnings per share elevated by 48.6%, from 40.06 cents to 60.86 cents per share.
Equally, core headline earnings jumped from 42.70 cents per share to 62.69 cents.
Exterior of the interval lined by these outcomes, Blue Label reported that The Pay as you go Firm Proprietary Restricted renegotiated an extra extension of its Investec facility to 31 March 2023.
The unit’s complete debt was diminished by R340 million — from R1.56 billion on 30 November 2021 to R1.22 billion up to now.
“Thereafter, the publicity to Investec is required to be diminished by an extra R30 million monthly to be able to scale back the utmost facility stability to R1.01 billion,” Blue Label said.
Share quick deal involving Cell C solvency
Blue Label concluded agreements with the 40% shareholders of every AV Applied sciences Restricted (Mauritius) and Airvantage Proprietary Restricted (South Africa) on 14 December 2021.
Beneath the phrases of the deal, these corporations terminated the put choices — quick bets, primarily — they’d positioned in opposition to Blue Label’s inventory.
“On 15 December 2021, Blue Label concluded a put choice settlement with Digital Ecosystems Proprietary Restricted, previously Blue Label Cellular Group, by way of which the latter acquired the correct to place as much as 40% of the shares in Airvantage to BLT by no sooner than 15 December 2022 for a most quantity of R110 million,” the corporate said
“If Cell C Restricted, by means of a board decision, passes a solvency and liquidity check prior to fifteen December 2022, the put choice will likely be terminated.”