This growth was achieved in spite of the Group’s share of losses in Blue Label Mexico increasing by 14.5 million rand, negatively impacting on growth in headline earnings per share by 2.17 cents.
The growth in earnings was primarily attributable to increases in revenue of 14 per cent, gross profit of 11 per cent and earnings before interest, taxes, depreciation, and amortisation of 20 per cent.
[DATA BLU:Blue Label Telecoms Limited]’s revenue surged 14 per cent to 10.3 billion rand from nine billion rand in the same comparable period of 2013.
“Gross profit margins increased from 7.48 per cent to 7.62 per cent on exclusion of imputed IFRS interest adjustments,” said the group.
(READ MORE: Gross profit for Blue Label Telecoms hits billion rand mark)
The group’s South African distribution segment continues to be the predominant contributor to Group profitability through the expansion of its offerings into its multitude of distribution channels.
“It is a reliable aggregator for several suppliers, supported by a responsive service. Its reputation continues to be one of trust and reliability,” said the group.
The company also said, the recently acquired Retail Mobile Credit Specialists (RMCS) and Viamedia, both performed according to expectations in enhancing Group profitability.
“The secure and safe banking and financial services provided by Oxigen Services India, continue to gain momentum with deposits reaching 2.7 million US dollars per day at the interim stage,” added the company.
“It has become the largest provider in India of domestic money remittances on the Interbank Mobile Payment Service network, a platform provided by the National Payments
Corporation of India.”
The group says Oxigen Services India is poised to address the next stage of its growth cycle by increasing its share of domestic and international remittances.
(READ MORE: Blue Label Telecoms HEPS up 7% despite revenue decline)
“It is able to facilitate banking, money transfer transactions and instant payments within the convenient reach of people via secure proprietary technologies,” added the company.
“As the considered pioneer in the establishment of a retail payment eco system based on GPRS point-of-sale devices, PCs and mobile phones, OSI is well placed to provide remittance capabilities to 450 000 unbanked villages in India.”