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Airtel Africa profit falls in H1 as impact of lockdowns in Q1 offset growth in Q2

By BFN News | 08:32 AM | Friday 23 October, 2020


Telecoms company Airtel Africa reported a fall in first-half profit as improving growth in the second quarter amid easing lockdown restrictions were offset by weakness in the first quarter. For the half-year ended 30 September, pre-tax profit fell 11.1% to $281 million year-on-year, while revenue rose 10.7% to $1,815m. The company saw improved performance in the second quarter, with revenue growth of 23.1% as a result of 'the easing of restrictions on movement of people which was implemented in the first quarter owing to the COVID-19 pandemic,' Airtel Africa said. The customer base grew by 12.0% to 116.4 million in the first half the year. The company declared an interim dividend of $1.5 per share. At 8:32am: (LON:AAF) Airtel Africa PLC share price was -2.75p at 62.05p Story provided by StockMarketWire.com

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