Telecommunications company Airtel Africa (AAF.L) on Thursday reported significant growth in nine-month pre-tax profit, while it turned around to attributable net profit from prior year's loss. Meanwhile, revenue declined on a reported basis, but was higher on constant currency basis.
On the London Stock Exchange, Airtel Africa shares were trading at 146.39 pence, up 10.07%.
The company posted a profit before tax of $494 million, up 796.6% from $55 million last year.
Net profit attributable was $164 million in the nine-month period, compared to a loss of $61 million in the same period last year. Airtel Africa recorded basic earnings per share of 4.4 cents, compared to a loss of 1.6 cents a year ago.
Revenues for the first nine-month of 2024 fell 5.8 percent to $3.64 billion from $3.86 billion a year ago. Revenues, however, grew 20.4% in constant currency.
Major contributors to the revenue growth were mobile services revenues, which grew by 18.8% in constant currency, along with voice revenue growth of 9.8% and data revenue growth of 29.5%. Mobile money revenue grew by 29.6% in constant currency.
Airtel Africa also reported a 7.9% growth in total customer base to 163.1 million. Data customer penetration also rose, with data customers growing 14% to 71.4 million.
In December 2024, the company announced a second share buyback programme, which will return up to $100 million to shareholders.
For comments and feedback contact: editorial@rttnews.com
Business News
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.