(Alliance News) - Airtel Africa PLC on Thursday reported a surge in interim profit in its first financial quarter, driven by strong performance in all its regions.
Shares in Airtel were up 1.9% to 84.10 pence each in London on Thursday afternoon.
The London-based provides telecommunication services across Africa.
Pretax profit for the three months ended June 30 was USD259 million, more than doubled year-on-year from USD111 million, as revenue rose 31% to USD1.11 billion from USD851 million.
Strong revenue growth was recorded across all regions with revenue in Nigeria up 38%, East Africa up 33% and Francophone Africa up 25%.
Airtel said it continues to see huge potential across voice, data and mobile money due to the low penetration levels in Africa, as it aims to help bridge the digital divide and enhance financial inclusion.
"Our continued focus on modernisation and rollout of our network, along with simplifying our products and improving our distribution, have all helped us to make handsome gains on our ARPUs across voice, data and mobile money. Our robust operating model and solid execution should enable us to continue our profitable growth," said Chief Executive Raghunath Mandava.
By Amrit Sahota; newsroom@alliancenews.com
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Airtel Africa (AAF)