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

what happened

Mobile money service Airtel Money, which began trading in London earlier this month, published its first results as a listed company. According to Reuters, revenue for the six months to end-September reached $830 million, up 25.1% in constant currency from a year earlier.

Profit after tax climbed to $228 million from $188 million. The customer count rose 18.7% to 56.7 million, lifting mobile money penetration of Airtel Africa's telco base to 42.9%, up 3.2 percentage points. The company also reiterated its full-year guidance and will pay an interim dividend of 6.4 cents per share.

Chief Executive Ian Basil Ferrao said Francophone markets, which are less penetrated, showed particularly strong growth. Payments and transfers rose 32.8% and financial services 49.7%, both faster than the traditional wallet business, which grew 25%.

why it matters

The results matter for the stock's post-listing performance. Shares closed Friday at 179 pence, below the 196 pence offer price, then rose 2.5% to 184 pence in early Tuesday trading. Strong revenue and customer growth may shape investor interest in the stock and in African mobile payments more broadly.

market impact

Airtel Money: strong results support investor interest in the stock after its London listing

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