Finweek English Edition - - THE WEEK -

Cell C re­ported a profit of R540m – the first time in 16 years of op­er­a­tion that the com­pany man­aged to do so, re­ported Busi­ness Day. That com­pares to a loss of R5.6bn in the 2015 fi­nan­cial year. The pa­per re­ported that the ser­vice provider was still lag­ging be­hind its com­peti­tors when it came to cap­i­tal ex­pen­di­ture (capex), which is at R2.8bn for 2017, while MTN SA is set to spend R11.5bn this year, for ex­am­ple. The com­pany’s CEO, José Dos San­tos, was quoted as say­ing that rev­enue and cus­tomer growth were needed be­fore they’d be able to fur­ther in­crease capex.

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