Cell C’s announcement of its half-year results (January to June 2008) confirms its continued strong growth, which was evidenced in its annual results for the year ended 31 December 2007.<\/p>\n
Total revenue has increased by R590 million, a rise of 17%. Cell C has also recorded a strong improvement in Operating profit of 36%, as compared to half year results of 2007 and Earnings before Interest, Tax, Depreciation and Amortisation (EBITDA) of R517 million was achieved.<\/p>\n
"Our management, staff and particularly our customers have responded exceptionally well to our concerted efforts to grow profitably, as part of our turn-around strategy,” comments CEO Jeffrey Hedberg. <\/p>\n
“The team’s hard work and commitment to our customers are clearly paying dividends, despite the current economic climate." <\/p>\n
According to Hedberg, there will continue to be a strong focus on improving and streamlining Cell C’s operations and ensuring that the organisation is leaner, quicker on its feet and more responsive to changing market requirements. <\/p>\n
“Our shareholders continue to show strong support as the turnaround continues to deliver,” said Hedberg.<\/p>\n
Cell C’s active subscribers surged by 58% since June 2007 to 5.4 million, largely due to popular products such as Woza Weekend and the Hola 7 starter pack, resulting in a substantial increase in the volume of traffic on Cell C’s Edge-enabled network. <\/p>\n
"Our new core network has enabled us to effectively manage this increase in our customer base," continues Hedberg. "Had we not migrated to the new core network technology, we would have had to build a network three times its current size."<\/p>\n
“We will continue to offer innovative and value for money products and services, which have been the driver of Cell C’s recent market offers.”<\/p>\n
"I am confident that we are on the right track in providing what our customers require” says Hedberg. <\/p>\n
"Cell C, like many other businesses in South Africa, faces significant challenges given the current economic climate, yet our team has the flexibility and capability to respond nimbly and with impact to our customers’ requirements".<\/p>\n