Cell C Interim Results

Cell C Reports R7.5 Billion Loss

Image sourced from Town Press Cell C has released its interim results for the six months to June 2020. This inside look at the telco shows that it made a R7.5 billion net loss after tax. This loss, according to a report by My Broadband, was due to a number of ‘once-off costs’, and also reflects impairments to the value of R5 billion. Normalised earnings showed a 64% improvement to R1.8-billion, reflecting the overall impact of the new management team’s strategic focus on optimising its network as well as its emphasis on more profitable customers. However, overall revenue was at R6.9-billion compared to the six months of the previous year (2019: R7.4-billion). More than 89% of its revenue comes from service revenue which was 6% lower at R6.5-billion, while hybrid and Fibre-to-Home saw an in...