TechCentralTechCentral
    Facebook Twitter YouTube LinkedIn
    Facebook Twitter LinkedIn YouTube
    TechCentralTechCentral
    NEWSLETTER
    • News

      South Africa’s ‘silent revolution’ as those with cash go solar

      15 August 2022

      SA coal giant Seriti Resources in pivot to renewables

      15 August 2022

      Tencent, TikTok share details of prized algorithms with Beijing

      15 August 2022

      Fixing SA’s power crisis is not complex: it simply takes the will to do better

      12 August 2022

      Consortium makes unsolicited bid for state’s 40% stake in Telkom

      12 August 2022
    • World

      Institutions eye crypto but retail investors remain nervous

      15 August 2022

      Tencent woes mount, even after $560-billion selloff

      12 August 2022

      Huawei just booked its first sales rise since US blacklisting

      12 August 2022

      Apple remains upbeat about iPhone sales even as Android world suffers

      12 August 2022

      Ether at two-month high as upgrade to blockchain passes major test

      12 August 2022
    • In-depth

      African unicorn Flutterwave battles fires on multiple fronts

      11 August 2022

      The length of Earth’s days has been increasing – and no one knows why

      7 August 2022

      As Facebook fades, the Mad Men of advertising stage a comeback

      2 August 2022

      Crypto breaks the rules. That’s the point

      27 July 2022

      E-mail scams are getting chillingly personal

      17 July 2022
    • Podcasts

      Qush on infosec: why prevention is always better than cure

      11 August 2022

      e4’s Adri Führi on encouraging more women into tech careers

      10 August 2022

      How South Africa can woo more women into tech

      4 August 2022

      Book and check-in via WhatsApp? FlySafair is on it

      28 July 2022

      Interview: Why Dell’s next-gen PowerEdge servers change the game

      28 July 2022
    • Opinion

      No reason South Africa should have a shortage of electricity: Ramaphosa

      11 July 2022

      Ntshavheni’s bias against the private sector

      8 July 2022

      South Africa can no longer rely on Eskom alone

      4 July 2022

      Has South Africa’s advertising industry lost its way?

      21 June 2022

      Rob Lith: What Icasa’s spectrum auction means for SA companies

      13 June 2022
    • Company Hubs
      • 1-grid
      • Altron Document Solutions
      • Amplitude
      • Atvance Intellect
      • Axiz
      • BOATech
      • CallMiner
      • Digital Generation
      • E4
      • ESET
      • Euphoria Telecom
      • IBM
      • Kyocera Document Solutions
      • Microsoft
      • Nutanix
      • One Trust
      • Pinnacle
      • Skybox Security
      • SkyWire
      • Tarsus on Demand
      • Videri Digital
      • Zendesk
    • Sections
      • Banking
      • Broadcasting and Media
      • Cloud computing
      • Consumer electronics
      • Cryptocurrencies
      • Education and skills
      • Energy
      • Fintech
      • Information security
      • Internet and connectivity
      • Internet of Things
      • Investment
      • IT services
      • Motoring and transport
      • Public sector
      • Science
      • Social media
      • Talent and leadership
      • Telecoms
    • Advertise
    TechCentralTechCentral
    Home»News»Cell C swings to profit – R2.3-billion before tax

    Cell C swings to profit – R2.3-billion before tax

    News By Duncan McLeod26 August 2021
    Facebook Twitter LinkedIn WhatsApp Telegram Email
    Cell C CEO Douglas Craigie Stevenson

    Mobile operator Cell C has reported R2.36-billion in profit before tax, a huge turnaround in fortunes from the R10.69-billion loss it reported a year ago.

    Cell C disclosed the PBT figure to TechCentral on Thursday when its largest shareholder, Blue Label Telecoms, published full-year results for the period ending 31 May 2021. The Cell C PBT figure is for the same trading period.

    “Cell C has reported a significant turnaround in profitability,” said CEO Douglas Craigie Stevenson. Cell C’s financial year ends in December, and so the R2.3-billion PBT amount does not form part of its audited accounts. It is expected to publish its first-half results to 30 June in late September or early October.

    The mobile operator’s fortunes are certainly looking up: It also reported 130% swing in earnings before interest and tax

    The mobile operator’s fortunes are certainly looking up: It also reported 130% swing in earnings before interest and tax – there was a significant impairment of network assets in the previous financial year – and a 10% decrease in operating expenses, specifically network costs “in line with strategy”, Craigie Stevenson said.

    Average prepaid revenue per user climbed by 19% year on year. Overall Arpu was R76.

    Revenue

    Blue Label, meanwhile, disclosed that Cell C reported revenue for the 12-month period to end-May of R13.95-billion from R14.59-billion previously.

    Meanwhile, it’s understood that a planned recapitalisation of Cell C, aimed at addressing the large amount of legacy debt on its balance sheet, is nearing finalisation and will be announced soon.  – © 2021 NewsCentral Media

    Now read: Telkom’s ‘duopoly’ narrative has passed its sell-by date: Cell C

    Blue Label Telecoms Cell C Douglas Craigie Stevenson top
    Share. Facebook Twitter LinkedIn WhatsApp Telegram Email
    Previous ArticleTelkom’s ‘duopoly’ narrative has passed its sell-by date: Cell C
    Next Article 8 ways a total document solution assessment will save your business time and money

    Related Posts

    South Africa’s ‘silent revolution’ as those with cash go solar

    15 August 2022

    SA coal giant Seriti Resources in pivot to renewables

    15 August 2022

    Tencent, TikTok share details of prized algorithms with Beijing

    15 August 2022
    Add A Comment

    Comments are closed.

    Promoted

    Seven reasons your business needs IP surveillance cameras

    15 August 2022

    5G your life for faster, more reliable home or mobile connectivity

    15 August 2022

    World’s fastest compact firewall for hyperscale data centres, 5G networks

    15 August 2022
    Opinion

    No reason South Africa should have a shortage of electricity: Ramaphosa

    11 July 2022

    Ntshavheni’s bias against the private sector

    8 July 2022

    South Africa can no longer rely on Eskom alone

    4 July 2022

    Subscribe to Updates

    Get the best South African technology news and analysis delivered to your e-mail inbox every morning.

    © 2009 - 2022 NewsCentral Media

    Type above and press Enter to search. Press Esc to cancel.