Airtel Networks Zambia revenue increases by 38.8% in HY2021

By Published On: September 27th, 2021Categories: Corporate announcement, Earnings

In accordance with the Lusaka Securities Exchange (“LuSE”) Listings Requirements, the Board of Directors of Airtel Networks Zambia Plc (“Airtel” or “the Company”) hereby advises the Shareholders of the Company that the Earnings Per Share (“EPS”) for the period ended 30 June 2021 is expected to be approximately 132% higher than the period ended 30 June 2020.

The growth in EPS is a result of a flow-through of the Revenue Growth of 38.8%. Operating profit grew by 55.5% as Management continued to optimize costs. The Local Currency’s rapid depreciation slowed down during this period hence resulted in lower exchange losses compared to the same period last year.

Shareholders are advised that the information contained in this Trading Statement has not been reviewed nor reported on by the external auditors of the Company.

The Company expects its results for the year ended 30 June 2021 to be released on SENS and published in the local press on or about 28th September, 2021. Accordingly, shareholders are advised to exercise caution when dealing in the Company’s Securities until the publication of the results.

By Order of the Board

Sonia Shamwana-Chinganya
Company Secretary
Issued in Lusaka, Zambia on 24th September 2021