JSE-listed Blue Label Telecoms has reported an increase in earnings for the year ended May 31, 2021.
The group reported core headline earnings for the year under review of R788-million – of which R763-million related to continuing operations and R25-million to discontinued operations.
This compares with the core headline earnings during last year of R562-million, of which R469-million related to continuing operations and R93-million to discontinued operations.
Excluding non-recurring income of R47-million during the year to May 2021 and extraneous costs of R163-million in the period to May 2020, core headline earnings from continued operations increased by R84-million from R632-million to R716-million, while core headline earnings per share (HEPS) from continuing operations increased by 16% from 70.54c a share in the prior year to 81.50c in the year under review.
Excluding non-recurring income and extraneous costs in both 2020 and 2021, earnings per share (EPS) and HEPS from continued operations increased by 15% to 77.31c and 17% to 78.01c a share respectively.
The company reported EPS of 94.55c, of which continuing operations accounted for 91.67c and discontinued operations for 2.88c, an increase on the prior year’s EPS of 13.89c, with continuing operations accounting for 25.30c and discontinued operations for -11.41c.
Blue Label’s revenue from continuing operations declined by 11% to R18.8-billion. However, including the gross profit earned on PINless top-ups, prepaid electricity, ticketing and gaming, the revenue increased 10% from R59.9-billion to R66-billion, the company said in an update to shareholders.
Gross profit for the year ended May 31, 2021, increased by R259-million, or 12%, to R2.38-billion, with an increase in margins from 10.05% to 12.66%.