BLU Trading Statement Neutral

BLU LABEL UNLIMITED GROUP LIMITED - Trading statement for the six-month period ended 30 November 2025

Blu Label Unlimited Group Limited
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What this filing means

Blue Label reports a massive statutory loss of R5.2bn due to the Cell C restructuring but points to a healthy 44.19c core HEPS from its underlying distribution business.

Bull case

  • Core headline earnings per share (excluding Cell C restructuring) is projected at a robust 44.19 cents, suggesting a strong underlying operational base.
  • The group has strategically de-risked by relinquishing control of Cell C, moving it to an equity-accounted associate model which limits future consolidation of losses.

Bear case

  • Basic EPS is expected to collapse by over 100%, shifting from a 43.98 cents profit to a massive loss of approximately 555 cents per share.
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Category
Trading Statement
Published
Feb 19, 2026

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