Airtel networks Zambia posts 16% revenue growth in HY2020

0
658
  • Revenue increased by 15.98%
  • Customer base grew by 7%

Harare – Airtel Networks Zambia saw an increased revenue for the six months period to 30 June 2020 compared to the same period last year.

In a half year results publication, the company registered a 15. 98% growth in revenue which closed the six months period to June 2020 at ZMW1.161 million compared to ZMW1.001 million registered in the prior comparable period.

The company said the growth in revenue was due to the company’s ability to continue expanding investments in Zambia.

Meanwhile, customer base grew by 7% to 6.188 million compared to the same period last year while the total number of mobile telephone subscribers in the second quarter of 2020 was 17.9 million.

However, Airtel recorded a loss of ZMW275 million year on year from a profit of ZMW29 million in the same period last year.

The drop in profit was attributed to currency depreciation across the financial year which has had a noteworthy impact on the Company’s income statement.

The Kwacha devaluated by more than 40% during the period under review.

Airtel Networks Zambia Plc is part of the Bharti Airtel Group and is the largest mobile phone operator in Zambia, by revenue, with a customer base of more than 6 million as at 30 June 2020.

Since commencing operations in December 1998, Airtel Networks Zambia Plc has extended its network across the country and now provides coverage in all the districts of Zambia.

 Airtel Networks Zambia offers a full range of voice services, international roaming, prepaid and postpaid subscriptions, and mobile internet to individual, corporate and SME customers”.

Equity Axis News

LEAVE A REPLY

Please enter your comment!
Please enter your name here