Edward West edward.west@inl.co.za BLUE LABEL Telecoms (BLT), which lifted core headline earnings from continuing operations 16 percent to 81.50 cents a share in the year to May 31, was looking forward to another strong performance in the 2022 financial year, the group’s management said yesterday.
BLT also said that its associate, Cell C, had turned in a taxed profit from a massive loss previously, and that the amount due for its recapitalisation – the quantum of which was not yet disclosed – had been secured.
On August 2, 2017, Blue Label, through subsidiary The Prepaid Company, acquired 45 percent of Cell C for R5.5 billion.
As at May 2019, the group’s investment in Cell C was impaired to nil, where it remained as at May 31…