JSE-listed Blue Label’s core businesses continued to generate further growth in revenue, gross profit and core headline earnings a share during the six months ended November 30.

Revenue for the six months under review reached R9.8-billion, up 8% from R9.1-billion in the prior corresponding period, the company said in its financial results statement on Thursday.

Including the gross amount generated on PINless top-ups, prepaid electricity, ticketing and gaming, the effective growth in revenue equated to 9% from R36.2-billion to R39.3-billion.

Blue Label reported a 13% increase in gross profit from R1.36-billion to R1.54-billion, with an increase in gross profit margin from 14.93% to 15.67%.

However, the group’s core headline earnings per share (HEPS) contracted from 62.69c a share in the prior corresponding period to 3.94c a share in the six months under review.

“Excluding the extraneous contributions of R421-million, primarily resulting from the recapitalisation transaction of Cell C, and R148-million in the prior period, core HEPS increased by 13% to 51.72c a share, compared with 45.68c a share in the prior period,” Blue Label outlined on Thursday.

The group’s core headline earnings of R35-million for the six months ended November 30 were down from core headline earnings of R549 million, of which R548-million related to continuing operations and R1-million to discontinued operations, in the prior corresponding period.

The predominant extraneous contributions to the November 2022 basic, headline and core HEPS, emanated primarily from the recapitalisation transaction of Cell C.

Excluding the extraneous contributions and nonrecurring income in the current and prior periods, core headline earnings increased 14% from R400-million to R455-million, while core HEPS increased by 13% from 45.68c apiece in the prior period to 51.72c a share.

Earnings per share (EPS) amounted to negative 8.74c, compared with 60.71c a share in the prior period, of which 60.59c related to continuing operations and 0.12c to discontinued operations.

“Excluding the extraneous contributions and nonrecurring income in both the current and prior periods, EPS and HEPS increased by 14% to 49.66c a share and 49.86c a share, respectively.”

Earnings before interest, taxes, depreciation and amortisation increased 15% from R624-million to R718-million, excluding the extraneous costs of R109-million in the current period and nonrecurring income of R278-million in the prior period.