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BLU
BLU
BLU - Blue Label Telecoms - Trading Update for the Year Ended 31 May 2009
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 year ended 31 May 2009
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;-
growth on pro forma earnings for the year ended 31 May 2008 as follows:
- core earnings per share of between 12% and 17%
- earnings per share of between 41% and 48%
- headline earnings per share of between 44% and 51%
growth on actual earnings for the same period as follows:
- core earnings per share of between 18% and 24%
- earnings per share of between 62% and 70%
- headline earnings per share of between 66% and 74%
The pro forma earnings for the period ended 31 May 2008 represent Blue
Label`s performance as if the group`s restructuring and the capital
raised on listing took effect from 1 June 2007;
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`s core earnings represent the actual
earnings of the group after adjusting for the amortisation of intangible
assets only.
The increase in Blue Label`s core earnings was achieved through organic
growth attributable to the following:
- growth in local and international revenue due to increased market
penetration;
- increased revenue attributable to an expansion in the range of
secure electronic tokens of value and other services;
- increased revenue from annuity income streams;
- economies of scale derived from strategic and operational
integration.
The growth in earnings was achieved notwithstanding a substantial
increase in budgeted expenditure focused on technological development and
the introduction of additional products and services, which will enhance
the distribution capabilities of the group for future growth.
The financial information referred to above is set out in the table
hereunder:
31 May 2008 31 May 2009 % increase
Comparison of 31 pro forma Trading Update to 31 May
May 2008 pro forma Range 2008 pro
earnings to 31 May (A) forma
2009 trading results
update range
Core earnings 371 416 - 434 12 - 17
R`million
Earnings R`million 269 379 - 397 41 - 48
Headline earnings 267 384 - 402 44 - 51
R`million
Core EPS cents 48.40 54.16 - 56.83 12 - 17
EPS cents 35.16 49.66 - 52.03 41 - 48
HEPS cents 34.86 50.32 - 52.69 44 - 51
31 May 2008 31 May 2009 % increase
Comparison of 31 Trading Update to 31 May
May 2008 actual Range 2008
earnings to 31 May (A) results
2009 trading
update range
Core earnings 270 416 - 434 54 - 61
R`million
Earnings R`million 181 379 - 397 109 - 119
Headline earnings 179 384 - 402 115 - 125
R`million
Core EPS cents 45.81 54.16 - 56.83 18 - 24
EPS cents 30.65 49.66 - 52.03 62 - 70
HEPS cents 30.26 50.32 - 52.69 66 - 74
A - This represents the expected range in net profit after tax
attributable to equity holders for the year ended 31 May 2009.
Blue Label Telecoms` financial results for the year ended 31 May 2009 are
expected to be announced on or about 26 August 2009.
This trading statement has not been reviewed or reported on by the
group`s external auditors.
12 August 2009
Sponsor: Investec Bank Limited
Date: 12/08/2009 11:00:01 Produced by the JSE SENS Department.
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