Business

Airtel to unveil Q1 FY2020 report, July 24

Telecommunications firm, Airtel Africa Plc, has disclosed plans to officially unveil its financial statements for the first quarter of the year, July 24.

In a notice sent to the Nigerian Stock Exchange (NSE), Friday, a copy of which was obtained by Abeyanews, the telco also said the report would subsequently be made available to the general public next Friday.

This is just as the firm said it would use the unveiling to also engage some investors and analysts on the results.

“Airtel Africa, a leading provider of telecommunications and mobile money services, with a presence in 14 countries across Africa, will announce its Q1’21 results for the period ending June 30, 2020, on July 24, 2020.

“Management will host a conference call on the day of results for analysts and investors at 9.30 am BST,” the statement said.

Airtel Africa has a presence in 14 countries in Africa, especially in East Africa and Central and West Africa.

The firm offers an integrated suite of telecommunications solutions to its subscribers, including mobile voice and data services as well as mobile money services both nationally and internationally.

The organisation said it aims to continue providing a simple and intuitive customer experience through streamlined customer journeys.

In the full year ended March 31, 2020, the telecommunication giant recorded a 11.2 per cent increase in its revenue and this was largely from its largest arm, Airtel Nigeria, growing by 24.1 per cent year-on-year and accounting for 40 per cent of the company’s overall revenue.

The revenue grew for year rose to $3.4 billion from $3.01 billion recorded in the previous year.

Annual profit before tax jumped 71.7 per cent to $598 million, while profit after tax stood at $408 million, down by 4.4 per cent due to a one-off deferred tax recognition in Nigeria in 2019.

During the period, growths were recorded across all business segments, with voice revenue up by 5.2 per cent, data by 39 per cent and mobile money by 37.2 per cent.

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