The performance of the Blue Label Group remains resilient in an adverse economic environment. In spite of the Covid-19 pandemic, the Group has continued to deliver essential services, including electricity, airtime, data and other digital services, as well as providing financial transactional services, which have not been negatively impacted. The Group’s ticketing and call centre operations have been negatively impacted as a result of the Covid-19 pandemic. Cash flow generated by the Group strengthened, with cash generated from operating activities amounting to R970 million in the current period.

Detailed commentary


  • Revenue ofR9.6 billion

  • Increase in gross profit
    margin from 10.33% to 11.87%

  • Gross profit of
    R1.14 billion

  • Interest-bearing borrowings reduced to
    R2.3 billion(2019: R3.6 billion)

On inclusion of the gross amount generated on “PINless top-ups”, prepaid electricity, ticketing and gaming, the effective increase equated to 7% from R30.2 billion to R32.4 billion.
# On exclusion of non-recurring income pertaining to foreign exchange gains of R22 million, core headline earnings per share from continuing operations equated to 37.35 cents per share.
Detailed highlights