Acquisitions boost Blue Label annual revenue

February 22, 2018 3:34 pm0 commentsViews: 23

blue label telecomsby AKANI CHAUKE
JOHANNESBURG – BLUE Label Telecoms has announced an increase in revenue to R13,5 billion (US$1,15 billion) for the year ended November 30 2017, inspired by some major acquisitions during the period.

Core headline earnings amounted to R1,36 billion.

Earnings included the group’s share of profits in Cell C of R928 million, of which R865 million pertained to the recognition in a deferred tax asset, and its share of profits of R36 million in 3G Mobile.

The balance of earnings pertained to the remaining companies within the group.

Blue Label is one of the primary distribution channels for Cell C products and services. 3G Mobile is one of Africa’s largest distributors and financiers of mobile devices and handsets to major retailers and cellular network providers.

Following Blue Label Mexico’s continuous improvement in operations, it is expected to provide a positive contribution to group profitability.

Blue Label stated in line with its strategy to continue expanding its distribution footprint and product offerings, focus will be on further penetration into the informal market.

This will be through the provision of point of sale devices to the multitude of independent traders.

“The demand for low cost smart phones and tablets is expected to accelerate and, in turn, enhance revenue and profitability.”
– Technoafrica

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