The only listed and trading mobile telecommunications company on the Lusaka Securities and Exchange has recorded a positive profit after tax of ZMW 693 Million, according to a statement released by Airtel Zambia Plc.
The abridged 2021 financial statements indicated that following a customer base growth of 18.8% year on year, total revenue increased by 37.8% upto ZMW 3,582 million. This partly turned the fortunes of the company which recorded a –ve ZMW 341 million in
prior year to a positive ZMW 693 million in 2021. The telecoms company attributed this performance to being mainly driven by revenue growth, strong
operating efficiencies and appreciation of the kwacha.
The company’s current customer based has increased by 18.8% from the previous year to 8.044 million subscribers in the financial year under review. This will be pleasing to investors who now see their investment hold a 6.67 earnings per share compared to negative 3.27 in the previous year.
Prospects continue to look positive from the company which has seen brand recognition increase over the years. For the period under review, the intangible assets of the company grow to ZMW 240 million from ZMW 82 million implying that the company is making the most of its non physical intangible assets.
