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Cell C recap hammers Blue Label’s earnings

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Prepaid specialist expects to report more than 90% drop in interim earnings

Blue Label Telecoms shares dropped sharply on Friday as the prepaid specialist said it expects to report a more than 90% drop in interim earnings, largely due to the recapitalisation of Cell C which was concluded in September.

In a note to shareholders, Blue Label — which specialises in selling prepaid airtime, electricity and ticketing — said it expects to report core headline earnings per share for the six months to November of 2.69c-5.19c. This translates to a drop of up to 60c, or 96%. ..

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