Cell C slashes its full-year operating loss

JOHANNESBURG – Cell C, South Africa’s third-biggest mobile operator said yesterday that it was no longer pursuing customers at all costs as it slashed its full year’s operating loss during the year that ended in December 2019 to R3.94billion from R7.36bn in 2018.

The group, which is 45 percent owned by JSE listed Blue Label Telecoms, reported a 21 percent decline in prepaid customers to 2.9 million in 2019.

It said that the margin on existing customers was better as a result of acquiring profitable customers.

Chief financial officer Zaf Mohamed said customers had been reduced as a result of the group’s move to actively managing its customers by pursuing more profitable customers.

“We are connecting better customers and focusing on profitable subscribers. We are not chasing subscriber growth as a cosmetic indicator,” Mohamed said, adding that the company had removed non-profitable products and increased its focus on retail product pricing.

Source: iol.co.za