Airtel Africa has released its half-year 2019 financial statements which show impressive performance by the company. The company’s subsidiary- Airtel Nigeria Plc, operates in Nigeria as the second-largest telecoms company by subscriber base.

The financial report was presented in dollars. However, Nairametrics has converted the figures to naira as you can see below.

Revenue: Airtel’s revenue grew by 8.4% to N503.3 billion, up from N464.4 billion during the comparable period in 2018. Meanwhile, the company’s expenses increased by 5.7% to N285.7 billion in H1 2019, up from N270.4 billion in H1 2018.

[READ MORE: Q3 2019: UBA grows net profit by 32.3%, as gross earnings hit N428.22 billion]

Airtel
Airtel CEO, Segun Ogunsanya

EBITDA: The telco’s earnings before interest, tax, depreciation and amortisation stood at N220.6 billion, marking a 10.9% increase compared to N199.2 billion in H1 2018.

Profit Before Tax: Moving on, the company recorded 158.4% increase in its profit before tax which stood at N96.9 billion in H1 2019 compared to N37.4 billion in H1 2018.

Profit After Tax: Lastly, Airtel Africa’s profit after tax stood at N69.9 billion, indicating that there was an 11.9% increase compared to N62.6 billion reported in H1 2018.

Business day

Further Details: It should be noted that the figures above represent the company’s figures from its operations across Africa. The company’s figures from Nigeria alone is summarised below:

[READ ALSO: Zenith Bank grows profit by 4.5% as at September 2019]

Deal book 300 x 250
Deal book 300 x 250

The company’s share price is trading at 0.59 GBP on the London Stock Exchange.

Standard chartered

To download the full report, click here.

 

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