Airtel posts K693 million profit after tax- Zambia

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.