Cell C reports rising revenues

Cell C, South Africa’s smallest mobile operator by subscribers, has reported a 14% rise in revenues for the full-year 2008, to ZAR8.6 billion (USD1.03 billion). EBITDA fell to ZAR813 million for the twelve months ending 31 December 2008, down from over ZAR1 billion a year earlier. The company did not release figures for its annual net profit and operating losses. The cellco added 1.6 million net new subscribers in 2008, an increase of 34%, to 6.4 million.