Is Cell C still ailing or can it survive?
Cell C said the second half of its 2019 financial year showed a strong turnaround and positive results.
Douglas Craigie Stevenson, Chief Executive Officer at Cell C, tells Bruce Whitfield about the company's turnaround plan.
We as an industry had generally had a lot of bad news, if you go and have a look at the stock exchange today... But I think the turnaround strategy we're embarking on is certainly robust and we've been good at showing where we can move to.Douglas Craigie Stevenson, Chief Executive Officer - Cell C
Out of the results the big issue is to show the difference between the first and the second half.Douglas Craigie Stevenson, Chief Executive Officer - Cell C
Yes - there is going to be a slowdown in economic activity I have no doubt, but I think our industry is pretty well resilient to take advantage of some of the things that's come out of working from home, being able to get fibre in, being able to offer new products.Douglas Craigie Stevenson, Chief Executive Officer - Cell C
The big thing here to secure the capital going forward is to be sure that we've got a story. For 19 years this business has not performed and has not been managed with a performance narrative. We've shown out of the last six to ten months that we have got a case for a proper recap. We've posted a 704 million sort of pre-impairment profit.Douglas Craigie Stevenson, Chief Executive Officer - Cell C
Listen to the full sound clip below.
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