Airtel Africa Plc has released its financial statements, for the year ended 31 March 2020 to the Nigeria Stock Exchange and the Investing Public. In the financial statements seen by Investogist, the company reported a revenue growth of 11.2% to $3.422 billion from $3.077 billion reported in the same period in 2019.
Voice revenue is the highest contributor to the companies Voice revenue amounts with $1.970 billion, representing about 57.57% of the total revenue. Other contributors to the revenue are Data revenue, Mobile money revenue and “other revenue” which contributed $930 million, $311 million, and $302 million, respectively.
The company’s expenses however increased by 8.6% to $1.924 billion from $1.772 Billion in the same period in 2019. Net Finance cost also grew by 5.3% to $372 million from $354 million.
Airtel Africa Plc posted a profit after tax of $408 million which shows a 4.4% decline from $426 million reported in 2019. A dividend of $3cents per share was recommended by the Board. This will bring the total dividend paid for the full year full to $6cents per share.
From the statements it could be seen that Airtel Africa grew its customer base 11.9% to 110.6 million.
Airtel Africa Plc had in 2019 listed simultaneously on the London Stock Exchange and Nigeria Stock Exchange (NSE). The trading of the company’s shares started on 3 July 2019 and 9 July 2019 on both exchanges. The NSE ticker for the stock is AIRTELAFRI
Airtel Africa Plc is into telecommunication services. The company 3,758,151,504 outstanding shares, with a market capitalization of N1.12 trillion.
The shares were listed on NSE at an offer price of N363 per ordinary share on the main Board of the exchange and at 80 pence per ordinary share on the main market of the London Stock Exchange.
On NSE, the last closing price of the share is N298.6. This represents a 17.74% decline from the listing price.
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On Covid-19 pandemic the company said “during these unprecedented times, governments have recognized the telecommunications industry as a critical and essential service. We are working closely with them to keep people connected and the wheels of the economy turning. Our performance during the month of April has been resilient, despite customers behaviour being impacted by lower disposable income and restrictions on movements. The business continued to deliver constant currency revenue growth, although at a lower rate. Increase in data and mobile money revenue growth more than offset revenue decline in voice”.
“Our priority is the health and well being of our employees, outsourced partners and customers, and we are making every effort to ensure that our OpCos have taken all necessary steps to ensure their safety. All offices have an agreed policy in the place for remote working, working in shifts and distancing practices, depending on the critical needs of individual functions”.
“All full- time employees have medical insurance, with additional provisions being made in case there is a need to help with medical cost over and above insurance.”
Written by
Ifunanya Ikueze
