SENS Note - 07 June 2000
M-Cell results for the year ended 31 Mar 00
 
Revenue increased by 35% to R6 007.9m (R4 453.3m), net income increased by R588.6m (R133.7m), and HEPS was up 102% to 50.7c (25.1c). M-Cell increased its shareholding in MTN to 77% (44%), acquired 100% of Orbicom, Africa's leading satellite telecommunications company, with effect from 1 Sep 99, and transferred its listing from the industrial - development sector to the industrial - telecommunications sector on the JSE. The MTN and Orbicom transactions have been consolidated in the results of M-Cell. The results for the current financial year are therefore not directly comparable with the results of the previous financial year and have been restated to reflect the full consolidation. Goodwill of R7bn arose from the increased share in MTN and the acquisition on Orbicom and has been written off against share premium.

M-Cell is well positioned to take advantage of the opportunities by the merger of telecommunications, media and information and new developments such as wireless internet access and highspeed data services. The results were largely as a result of the growth in MTN's subscriber base and improved operating efficiencies. Growth should also be achieved by winning more overseas cellular licences. By acquiring Orbicom, M-Cell's range of products is broader, from merely being a mobile telephony, to now having a full range of wireless and satellite digital communication services.