Cell C announces R540 million profit
“The 2016 financial year was exceptionally challenging, with South Africa’s economic growth essentially flat. Despite this, the company delivered solid results,” said Jose Dos Santos, Cell C CEO, speaking at a recent results presentation where it was announced that the mobile operator had posted its first profit of R540 million, for the year ending December 2016.
Dos Santos said:
"We are in a healthy space The strong revenue growth was the result of a focused strategy of innovation, exceptional value in product offerings and a customer-centric approach to how Cell C services its customers."
The company's Ebitda for the period increased by 59 percent year-on-year, to R3.1 billion, and revenue was up 11 percent to R14.6 billion. Service revenue increased 8 percent to R11.8 billion. Furthermore, the company's subscriber growth increased 20 percent, to 15.3 million active customers, over the reporting period.