Sharenet Sites 
Sharenet Sites
Trading statement for the year ended 31 May 2026
Blu Label Unlimited Group Limited
(Previously Blue Label Telecoms Limited)
(Incorporated in the Republic of South Africa)
(Registration number: 2006/022679/06)
JSE Share code: BLU
ISIN: ZAE000109088
("Blu Label", "BLU", "the Company" or "Group")
Trading statement for the year ended 31 May 2026
In accordance with paragraph 6.26(a) and 6.30 of the Listings Requirements of the JSE Limited, shareholders are
advised that the Company expects basic ("EPS"), headline ("HEPS") and core headline earnings per share ("Core
HEPS") for the year ended 31 May 2026 ("Reporting Period") to decrease by more than 20% compared to the year
ended 31 May 2025 ("Comparative Period").
Excluding Cell C Holdings Limited ("Cell C") and Comm Equipment Company's financial results, all extraneous items
relating to the restructuring transactions and listing of Cell C, loss on disposals and impairments, BLU would have
reported revenue of R9.4 billion, gross income of R2.555 billion, EBITDA of R923 million and net profit after tax of
R677 million. Core headline earnings would have totalled R681 million, equating to Core HEPS of 75.33 cents. As
only the gross profit earned on PINless top-ups, prepaid electricity, ticketing and universal vouchers are recognised
as revenue, the imputed gross revenue generated from these sources amounted to R99.9 billion. These metrics
provide a more meaningful indication of BLU's underlying operational performance and earnings base going
forward.
As previously reported in Blu Label's interim results for the six-month period ended 30 November 2025,
shareholders were advised that the non-operational accounting effects arising from the Cell C restructuring
transactions and outcome of the listing would continue to affect reported earnings for the full financial year ending
31 May 2026. Consistent with that guidance, the Group's reported results for both the Reporting Period and the
Comparative Period were materially impacted by the Cell C restructuring transactions, the outcome of the listing of
Cell C and the resulting accounting consequences under IFRS® Accounting Standards. These factors resulted in a
material decline in reported EPS, HEPS and Core HEPS for the Reporting Period.
The table below illustrates the Company's ranges anticipated against the Comparative Period:
Range
May 2025 May 2026 Percentage
cents per share cents per share Decrease
Earnings per share 276.52 (542.50) – (536.96) > (100%)
Headline earnings per share 455.96 79.02 – 88.14 (83%) – (81%)
Core headline earnings per share 461.63 83.58 – 92.82 (82%) – (80%)
The financial information on which this trading statement is based has not been reviewed or audited by the
Company's external auditors.
The Company's financial results for the reporting period will be released on SENS on 26 August 2026.
Sandton
14 August 2026
Sponsor: Investec Bank Limited
Date: 14-08-2026 10:00:00
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