The transactions related to Cell C regarding the extended national roaming agreement with the MTN Group and the recapitalisation by the Buffet Consortium, are progressing well and we are likely to provide further updates to our stakeholders during the remainder of the 2019 calendar year.
The Blue Label Telecoms Group has been successful in delivering on its back-to-basics strategy during the year ended 31 May 2020. We have restructured the business to focus on core operations through the sale of the Blue Label Mobile and 3G Handset divisions and discontinued the retail operations of WiConnect.
In spite of certain restrictions caused by the COVID-19 pandemic, Blue Label has continued to deliver essential services, including electricity, airtime, data and other digital services, as well as providing financial transactional services.
A snapshot overview of Blue Label's financial performance for the year ended 31 May 2020.
|*||On inclusion of the gross amount generated on "PINless top-ups", prepaid electricity, ticketing and gaming, the effective increase equated to 7% from R56.0 billion to R59.9 billion.|
|**||On exclusion of negative contributions by the ceased operations of WiConnect and fair value downward adjustments, core headline earnings equated to 86.13 cents per share.|