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Airtel Africa said profits more than doubled in the first quarter driven by double-digit revenue growth in Nigeria and East Africa.
For three months ended 30 June, pre-tax profits rose 108% to $167.4m from a year earlier and revenues increased 6.9% to $ $795.9m.
Reported underlying earnings (EBITDA) was $ 347.6m, up 9.7%, while constant currency underlying EBITDA growth was 12.8%
Voice revenue, its largest business product, was up 3% largely driven by 9% growth in our customer base to 99.7m.
Data revenue, its largest contributor to growth, was up 36% as an increasing number of customers relied on our high-quality and high-speed LTE network, resulting in a 79% growth in data usage. Mobile Money revenue increased by 42% as it expanded its distribution reach.
At 8:30am: (LON:AAF) share price was -0.35p at 69.15p