A day after falling 8% on the back of interim results published by Cell C, Blue Label Telecoms shares again took a battering on Wednesday after the group published full-year results to 31 May 2018 that showed headline earnings per share growing by only 1%.

The shares plunged 12% shortly after 10am in Johannesburg, touching a low of R6.80/share.

Core headline earnings were R1.03-billion, up 30% on a year ago. Core headline earnings per share rose by 4% to 120.61c. The difference in the numbers is the result of dilution from the additional 272 million shares issued to fund acquisitions.

Blue Label’s 45% shareholding in Cell C contributed R569-million to core headline earnings. This included the recognition o the group’s share in a Cell C deferred tax assets of R1.92-billion. The 3G Mobile and Airvantage acquisitions added R157-million and R2.6-million to core headline earnings respectively. — © 2018 NewsCentral Media