ShawCell Telecommunications has reported an 8% increase in headline earnings per share for its latest financial year after both its divisions achieved a profitable year.
"Both the general merchandise and the cellular divisions have had profitable years with significant milestones achieved," the company says.
<B>Salient figures</B>
ShawCell Telecommunications results for the year to 31 December 2001
Previous year's figures in parentheses:
Revenue: R88.6m (R84.75m)
Operating profit: R42.01m (R36.52m)
Net profit: R46.6m (R43.17m)
HEPS: 3.11c (2.88c)
Current assets: R209.02m (R196.43m)
Current liabilities: R92.2m (R131.64m)
Net cash flow from operating activities: R21.41m (R40.88m)
During the year to end-December the general merchandise division franchised 50 dealerships throughout the country, while the cellular division was appointed a "Vodacom super dealer" throughout Africa.
The cellular division is soon to begin penetration into several African markets where Vodacom operates or is to be established.
It has also re-entered the recharge voucher and starter pack market, with the aim of capturing significant market share in the coming year.
Looking ahead, ShawCell says it is planning to franchise another 50 stores in the current year.
"The cellular division has achieved a major breakthrough with Vodacom consenting to the distribution of Cell C airtime via our distribution network.
"This opportunity will give the group access to additional markets which hitherto have not been specifically targeted and which will improve revenues and bottom line profitability."
The ShawCell share price was unchanged at 30c on the JSE by midmorning today.
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