Airtel Africa profits jump on surge in revenues

(Sharecast News) - Airtel Africa reported a sharp jump in half-year core earnings on the back of surging revenues and an increase in customer numbers.

EBITDA grew 33.2% in reported currency to $1.45bn, with margins expanding to 48.5% from 45.8% a year ago, driven by "continued operating momentum and sustained benefits from our cost efficiency programme", the London-listed telecoms company said on Tuesday.

Revenues grew 24.5% to $2.98bn as currency appreciation provided a tailwind. Airtel's customer base rose 11% to 173.8 million, with data customers of 78.1 million showing accelerated growth of 18.4%.

Reporting by Frank Prenesti for Sharecast.com