Airtel Africa Records 36.5 Percent Decline in Six-Month Profit

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AIRTEL AFRICA LOGO

Airtel Africa Plc’s results for the half-year ended September 30, 2020, showed that its profit after tax fell 36.5 per cent to $144.6 million, from the $227.7 million recorded in the corresponding period of 2019.

The telecommunication firm recorded a revenue of $1.815 billion in the period under review, showing an increase of 10.7 per cent from $1.64 billion in the corresponding period of 2019.

Net financing cost rose 29 per cent from $148 million to $191 million, while profit before tax fell 11 per cent to $280 million from $315.7 million in 2020. The company recommended an interim dividend of 15 cents per share.

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