Blue Label shares rise on good news of interim results
By 11.48am it had leapt to R3.32 before closing the day at R3.21.
Blue Label said for the six months ended November 2019 it was expecting a basic, headline and core headline earnings per share improvement of at least 2.52cents, 3c and 2.28c compared to the reported losses on basic, headline and core headline per share of 12.59c, 15.02c and 11.39c achieved respectively as at November 30, 2018.
According to Blue Label, for the six months ended November 2018, fair value losses totalling R493million and the group’s share of equity accounted losses in Cell C amounting to R133m were recognised.
No further fair value losses related to the Special Purpose Vehicles (SPVs) were recognised in the current reporting period as the exposure to the SPVs had been fully accounted for as at May 31, 2019, it said.
Source: iol.co.za