Cell C has clawed back some of its customers, increasing its subscriber base to 12.5-million as at the end of November 2020, after recording a decline to 11.8-million by June last year.
While revenue for the six months to November 30, 2020, declined 8% to R7.12-billion, from R7.72-billion in November 2019, owing to airtime discounts provided during the period, the group’s average revenue per user, excluding discounts, increased from R54 in the prior corresponding period last year to R72 in the current period.
Cell C also turned its profit from a loss after tax of R3.79-billion in the first half of 2020, to a net profit of R1.21-billion, an increase of 132%.
According to shareholder Blue Label Telecoms, which released its own financial half-year report on February 26, Cell C’s statutory earnings before interest, taxes, depreciation and amortisation (Ebitda) contracted 32% to R1.5-billion during the six months to November, mostly owing to one-off and recapitalisations costs.
Normalised Ebitda, adjusted for one-off and recapitalisation costs, increased 10% to R2.11-billion during the period under review.
Earnings before interest and taxes surged 142% to R1.19-billion in the six months to November, from a loss of R2.8-billion in the prior corresponding period.