Thursday, April 18, 2024

Airtel posts K693 million profit after tax

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Airtel Networks Zambia PLC recorded a profit after tax of K693 million in the period ending 31sth December 2021, from a negative K341 million in the prior year.

Speaking during an annual general meeting held on Wednesday, Airtel Zambia board Chairperson Monica Musonda says the highlights for the year under review include an increase in the customer base by 19%, with total revenues up by 37%.

Ms Musonda says the profit recorded was mainly driven by revenue growth, strong operating efficiencies and appreciation of the Zambian Kwacha.

She adds that these results were also driven by increased investments in network infrastructure and distribution especially in rural areas, with a keen focus on providing Voice and Data services to under-served communities.

Ms Musonda further states that the development of affordable products and services has driven subscription retention and acquisition.

He says the board has since recommended a final dividend of K2.40 per share which will be paid to all ordinary shareholders who are on the register of members at the close of business on or about 29th April 2022.

6 COMMENTS

  1. This is how you make a financial report, it’s easy for someone to understand the performance of the business. K693M after Tax, it’s easy to compute the Corporate Income Tax paid not what we were told by Muna Hantuba at Chilanga Cement PLC. He paid interim dividends but hid the estimated profit on which the decision was made. Afinsanji mambala?

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  2. And Zampost opts to steal vulnerable people’s money. The environment has always been there for profit. Airtel haven’t gone for grandiose and showy styles. Simple. It’s a shame.

  3. This reporting on the Performance of Airtel network Zambia makes sense compared to what Muna Hatumba report on Chilanga Cement. Airtel is now coming up with better performance and making profit from Negative K341m to K693m is super performance. Even the reason that this has been attributed to s strong Kwacha and increase in customer base raises eyebrows. This company may have been understating its profits in the past. This has been as a result of the new dawn govt serious approach to good corporate governance issues and being transparent. During PF a lot of companies used to understate their profits.

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