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Airtel Money reports 25% growth in first-half revenue in maiden results

By Reuters News

LONDON, Oct 26 (Reuters) - Airtel Money AMCA.L, the African mobile money service that listed in London this month, reported revenue of $830 million for the six months to end-September, up 25.1% from a year earlier in constant currency, in its maiden results on Monday.

  • Profit after tax of $228 million rose from $188 million, primarily reflecting the strong revenue growth over the first-half period

  • Customers grew by 18.7% to 56.7 million, driving mobile money penetration of Airtel Africa's telco customer base to 42.9%, up 3.2 percentage points

  • Average revenue per user grew by 5.1% in constant currency, reflecting an increase in transaction value per customer to $397 per month, an increase of 14.9%

  • Will pay interim dividend of 6.4 cents per share, reiterates full-year guidance

  • Chief Executive Ian Basil Ferrao said: "Our oversubscribed London listing was a landmark achievement for Airtel Money and a vote of confidence in our business model and strategy"

  • Shares in Airtel Money closed at 179 pence on Friday, below their offer price of 196 pence for its market debut on October 9.


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