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Cell C brings R1.3 billion annual loss

Cell C has reported Total loss of R1.3 million in 2018, on Friday, presentation of shareholders of the Blue Label Telecommunication website. The results are preliminary and not investigated.

Earnings from constant operations were R15.7 million, roughly the year before. The operating profit before income and income and income tax was R1.4 million, down from R5.4 million.

Interest-bearing loans and loans rose to R6.5 million, R5.8 million from 2017.

The mobile operator had a net loss of R634 million euros in the six months ended November 30, 2018. This figure was announced on results of the Blue Cabel Telecom Shareholder's Special Tax within a period of six months. Blue Label, with 45% of Cell C, said the net loss fee is R285 million. Cell C's financial year will end on December 31.

"Blue Label's accounting policies do not settle any portion of the liquidated shared share payment among its members and are not approved at the beginning of the 16th Session, which required an adjustment of R51 million and R106 million respectively, with a net income of R128 million. It was negative for Blue Label's core profits, "the JSE group said.

For 10 months after the end of May 2018, the net profit of Cell C was R1.14 million. This offsets compensated R782 million compensated losses by the approval of a deferred tax of R1.92 million euros. Blue Label earned a net profit of R512-million.

"Along with the Blue Label accounting policies, the shareholding fees have been settled with its members and the IFRS 15 and the IFRS 16's initial recovery, R65 million and R6 million negative adjustments, respectively. Positive results R571 million was a positive contribution For the main win over Blue Label. "- (c) 2019 NewsCentral Media

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