Cell C released their annual results yesterday, showing strong growth in subscriber numbers and revenue.<\/p>\n
Jeffrey Hedberg, outgoing Chief Executive Officer of Cell C said the results for the year ending 31 December 2008, underline that the company\u2019s strategy continued to pay handsome rewards as the operator declared increases in customers and revenue.<\/p>\n
Cell C generated revenue for the year of R8.6 billion, an increase of 14% from\u00a0\u00a0 the 2007 year, and achieved Earnings before Interest, Tax, Depreciation and Amortisation (EBITDA) of R812 million.<\/p>\n
Hedberg said that the results are positive, given the tough economic environment, and the pressure on consumers\u2019 personal budgets and disposable income. \u201cOur strategy and tactical plans produced the results in 2008 and I believe the team has met the expectations of both our customers and shareholders.\u201d<\/p>\n
He added that tighter management control had kept costs at adequate levels while profit margins remained satisfactory.<\/p>\n
Cell C said that its market share has increased as the client acquisition and retention strategies bore fruit in the year under review.\u00a0 As at 31 December 2008, the active subscriber base totalled 6.4 million subscribers, an increase of 34% from 2007.<\/p>\n
Newly appointed Chief Executive Officer, Lars Reichelt said whilst the company has performed well in most areas of the business in 2008, there is still significant room for improvement.<\/p>\n
\u201cThe potential for growth remains strong and we will focus our efforts in 2009 to ensure Cell C offers simple, innovative, value-for-money products and improved customer service.<\/p>\n
\u201cCell C will aggressively expand its network coverage and manage anticipated growth in usage.\u00a0 We will also further improve the operational and financial performance of the company.<\/p>\n
Simon Duffy, Chairman of Cell C\u2019s Board added that the shareholders are fully committed to the company and will continue to invest in the success of Cell C.<\/p>\n
\u201cWe are pleased with the results and confident that the company will continue\u00a0\u00a0 to deliver against the expectations of the Board and shareholders.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
Cell C shows strong growth in subscriber numbers and revenue over last 12 months<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"idle","_sma_x_autopost_error":"","_sma_x_post_id":"","_sma_facebook_post_id":"","_sma_instagram_post_id":"","_sma_threads_post_id":"","_sma_x_attempts":0,"footnotes":""},"categories":[19],"tags":[],"class_list":["post-7923","post","type-post","status-publish","format-standard","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/7923"}],"collection":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/comments?post=7923"}],"version-history":[{"count":0,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/7923\/revisions"}],"wp:attachment":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media?parent=7923"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/categories?post=7923"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/tags?post=7923"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}