Airtel’s profit after tax increases by 11.9% in H1 2019

Airtel Africa has released its half-year 2019 financial statements which show impressive performance by the company.

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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.

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.

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: