IN BRIEF: Airtel Africa hikes payout on doubled interim profit

Airtel Africa PLC - London-based telecommunications and mobile money services in 14 countries in ...

Alliance News 28 October, 2021 | 2:18PM
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Airtel Africa PLC - London-based telecommunications and mobile money services in 14 countries in Africa - Raises interim dividend following a strong first half of trading that saw profit more than double. Airtel declares an interim dividend of 2 cents, up from 1.5 cents a year before. Pretax profit rises sharply to USD567 million for half year ended September 30 from USD281 million a year earlier. Revenue grows 25% to USD2.27 billion from USD1.82 billion a year before. Also reports strong double-digit constant currency revenue growth across all regions including 32% in Nigeria, 26% in East Africa and 22% in Francophone Africa.

"Our first half financial performance has been strong. The first half of last year, and especially the first quarter, was impacted by the start of Covid, but even after adjusting for these effects, our revenue growth rates for the half year for the group and all our service segments are ahead of our financial year 2021 revenue growth trends, and in reported terms these are all in strong double digits," comments Chief Executive Segun Ogunsanya.

By Will Paige; willpaige@alliancenews.com

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Airtel Africa PLC Ordinary Shares 123.20 -

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