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Airtel Uganda reports lower 2023 pre-tax profit

Airtel Uganda said on Monday its 2023 pre-tax profit declined 9.8% from the previous 12 months, hurt by a surge in rental and energy costs.

The firm, a unit of Bharti Airtel, was listed on the Uganda Securities Exchange (USE) last year after a heavily undersubscribed initial public offering.

It earned 426.8 billion Ugandan shillings ($108.9 million) in pre-tax profit last year.

Airtel competes with a unit of South Africa’s MTN Group in the east African country. Reuters

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