Airtel Africa Plc on Wednesday said it recorded an 11.2% leap in revenue for Full Year 2019, meaning its total income grew from $3.08 billion at FY2018 to $3.42 billion in the period under review.
Similarly, it announced an 11.9% rise in its customer base to 110.06 million, buoyed by its enlarging market in Nigeria, which contributes 40% of the wireless operator’s total revenue on the continent.
Airtel Africa debuted on the Nigerian Stock Exchange (NSE) nearly a year ago with over 3.758 billion shares, making it Nigeria’s third biggest company by market value.
“These results also demonstrate the strength and resilience of our business and the effectiveness of our strategy – with all three business services, voice, data and mobile money, contributing to revenue growth,” Raghunath Mandava, the telco Chief Executive Officer said.
However, it recorded a drop in its Profit After Tax (PAT), which declined by 4.4% from $426 million to $408 million.
The yawning gap between the company’s PBT, which witnessed a hugely positive growth and its PAT, which posted a negative growth suggests that the firm is spending a huge sum on tax in Africa.
Basic Earnings Per Share fell from $19.5 to $10.3, translating to a 47.3% decrease.
Airtel Africa closed trade on the floor of the NSE today at N298.90 per share.
Join the conversation
INVESTIGATION… Ten years after, communities count losses as AfDB, Cross River govt abandon road project
Ten years after the Cross River State government and African Development Bank (AFDB) jointly awarded the Yahe-Wanokom-Wanikade-Benue border road for...
INVESTIGATION….N.3bn down the drain: Why water projects for Enugu communities don’t work
In this concluding part, ARINZE CHIJIOKE talks about some of the projects that are serving the people and how various WASH programmes have failed to tackle...
INVESTIGATION…PARKVIEW ESTATE: Exclusive images of how billionaire property developer incurred Lagos govt‘s anger
Many have seen the demolished building, but not many know the circumstances that led to the teardown of the about...
INVESTIGATION… N.3bn down the drain, as Enugu communities suffer from dry taps
In November 2020, three organizations and the Enugu State government celebrated the completion of N300 million worth of projects that were expected...
INVESTIGATION… How herdsmen crisis compounds woes of already deprived Ogun communities
Earlier in January, the Nigerian media space was awash with reports of violence between herders and farmers across the country....