Cell C posts first profit of R540m

South Africa’s third-largest mobile operator Cell C on Tuesday posted a profit for the first time of R540-million for the year ended December 31, a reverse on the loss of R5.6-billion recorded in the prior financial year. The growth was attributed in bulk to foreign exchange-related gains stemming from the group’s recapitalisation plan, which has seen a portion of and will ultimately see all foreign debt eliminated, opening room for growth, CEO Jose Dos Santos commented during a presentation of the financial performance.