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BLU
BLU
BLU - Blue Label Telecoms Limited - Trading update for the six months ending 30
November 2008
Blue Label Telecoms Limited
(Incorporated in the Republic of South Africa)
(Registration number 2006/022679/06)
Share code: BLU ISIN: ZAE000109088
(Blue Label or the group)
Trading update for the six months ending 30 November 2008
In accordance with paragraph 3.4(b) of the Listing Requirements of the JSE
Limited, shareholders of Blue Label are advised that the group anticipates the
following growth on the proforma earnings for the period ending 30 November
2007:
* core earnings per share of between 18% and 21% .
* earnings per share of between 97% and 102% .
* headline earnings per share of between 96% and 101%
The anticipated growth on actual earnings for the same period is as follows:
* core earnings per share of between 35% and 39% .
* earnings per share of between 634% and 654% .
* headline earnings per share of between 577% and 595%
Pro forma earnings represented the group`s performance, taking into account the
restructuring and the capital raised on listing effective 1 June 2007 (being the
beginning of the period, and the date from which the majority of the group`s
subsidiaries became wholly owned);
Core earnings reflect the true measure of the group`s performance. Historical
core earnings reflect the adjustments in respect of non-recurring expenditure
arising from the listing and the amortisation of intangible assets. The current
year core earnings represents the actual earnings of the group after adjusting
for the amortisation of intangible assets only.
The increase in Blue Label`s core earnings predominantly emanated from organic
growth. This growth was attributable to the following:
* The increase in consumer demand for prepaid tokens of value, in spite of
the downturn in the economic climate.
* The introduction of additional products onto the vast footprint that is
serviced by the group`s customers.
* The growth in the group`s liquidity through the continued process of
stringent asset management resulting in increased finance income earned
thereon.
* The creation of additional distribution channels; and
* The continued benefit of vertical integration and economies of scale at
operational and technological levels.
The information in the underlying table illustrates the group`s trading update
in relation to the financial information referred to above:
30 Nov 2007 30 Nov 2008 % increase
Comparison of 30 Nov 2007 pro pro forma Trading to 30 Nov
forma earnings to 30 Nov 2008 Update 2007 pro
trading update range Range forma
(A) results
Core earnings R`million 181 213 - 218 18 - 21
Earnings R`million 99 195 - 200 97 - 102
Headline earnings R`million 100 197 - 202 96 - 101
Core EPS cents 23.58 27.77 - 18 - 21
28.47
EPS cents 12.93 25.46 - 97 - 102
26.15
HEPS cents 13.10 25.65 - 96 - 101
26.35
30 Nov 2007 30 Nov 2008 % increase
Comparison of 30 Nov 2007 actual Trading to 30 Nov
earnings to 30 Nov 2008 trading Update 2007
update range Range results
(A)
Core earnings R`million 85 213 - 218 150 - 156
Earnings R`million 14 195 - 200 1256 - 1293
Headline earnings R`million 16 197 - 202 1153 - 1187
Core EPS cents 20.55 27.77 - 35 - 39
28.47
EPS cents 3.47 25.46 - 634 - 654
26.15
HEPS cents 3.79 25.65 - 577 - 595
26.35
A - This represents the expected range in net profit after tax attributable to
equity holders for the period ended 30 November 2008.
Blue Label Telecoms` financial results for the period ended 30 November 2008 are
expected to be announced on or about 25 February 2009.
This trading statement has not been reviewed or reported on by the group`s
external auditors.
10 February 2009
Sponsor: Investec Bank Limited
Date: 10/02/2009 10:17:17 Produced by the JSE SENS Department.
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