JOHANNESBURG Feb 28 Blue Label Telecoms
reported a 54 percent rise in half year profits on
Tuesday, driven by domestic growth and a fair value gain from
its investment in Oxigen Services India (Oxigen).
* Headline earnings per share (HEPS) rose in line with
expectations to 81.78 cents for the six-month period ending 30
November 2016 compared with 53.26 cents.
* Blue Label, the largest distributor of pre-paid airtime
and data in South Africa, is in the middle of taking a 45
percent stake in debt-laden Cell C, South Africa's third largest
mobile phone company.
* "The board remains positive with regard to the investment
in Cell C and other commercial benefits that will
* follow therefrom. The demand for low-cost smart phones and
tablets is expected to accelerate and in turn enhance revenue
and profitability," the company said.
* Cell C and its creditors have agreed with Blue Label and
an unnamed investor to lower the company's debt to 6 billion
rand ($463 million) from 20 billion rand, Blue Label said on
(Reporting by Tanisha Heiberg; Editing by Ed Stoddard)