Airtel Africa Plc posted a pre-tax loss of $118 million for its fourth quarter, a sharp contrast from the previous year where they saw a profit of $233 million. Owners of the company saw a loss of $104 million or a decrease of 2.8 cents per share, a fall from the prior year's profit of $195 million or 5.2 cents a share.
However, when adjusted, earnings per share were slightly up at 3 cents versus 2.8 cents in the previous year. While quarterly revenues slumped 16.6 percent from $1.34 billion to $1.12 billion, there was a 23.1 percent rise when considered at constant exchange rates.
On the growth front, the company's total customer base increased by 9.0 percent, expanding to 152.7 million. Additionally, the Board has given the green light for a share buyback initiative worth up to $100 million, spanning potentially over a 12-month period.
The Board also endorsed a final dividend of 3.57 cents per share, making the cumulative dividend for the 2024 fiscal year 5.95 cents per share.
