Blue Label reports strong growth in core business

As only the gross profit earned on “PIN-less top-ups”, prepaid electricity, ticketing and gaming are recognised as revenue, on imputing the gross revenue generated thereon, the effective growth in revenue equated to 12% from R32.4 billion to R36.2 billion,” it said.

Gross profit meanwhile, improved 20% to R1.36 billion, and headline earnings per share of 60.86 cents, was up fromcents per share previously. Blue Label said that net cash generated from operating activities amounted to R862 million. Core headline earnings for the period ended November 2021 amounted to R549 million, of which R548 million related to continuing operations and R1 million to discontinued operations. Core headline earnings amounted to 62.69 cents per share.

In the comparative period, core headline earnings amounted to R376 million, of which R351 million related to continuing operations and R25 million to discontinued operations. Core headline earnings amounted to 42.70 cents per share.Blue Label said it continues to increase market share and bolster its product and services mix to defend and growGross revenue generated on “PIN-less top-ups” increased by R1.

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