Safaricom full year net profit rises to Sh45.1b

Safaricom’s net profit for the full year ended March 31 increased to Sh45.1billion from Sh38.1billion in the same period last year,the company announced on Wednesday.

The total revenues went up 8.8 per cent to Sh212.89billion from Sh195.7billion last year, voice Revenue went up to Sh 93.5billion from Sh90.8b.

Chief executive Officer Bob Collymore attributed the growth to increased revenues from M-Pesa. M-Pesa revenues grew from Sh41.5 billion to Sh55.08 billion.

“Voice, M-PESA and Data continue to show growth although we have seen slight decline in SMS revenue,” Collymore said.

Speaking during the release of the results, Collymore further said 3 million additional Kenyans joined Safaricom in the past year.

Safaricom board further proposed a dividend payout of Sh0.97 a share from Sh0.76 last year.

In 2016, Safaricom’s net profit for six months through to September increased to Sh 23.93 billion from Sh18.08 billion in the same period in 2015.

The telco attributed the 32.35 per cent growth to increased revenues from non-voice services, largely M-Pesa and data.

Total revenues rose 5.02 per cent to Sh102.1 billion from Sh97.22 billion a year earlier.

Voice services is still the single largest source of income at Sh45.77 billion in the six months, although at the slowest pace of 1.1 per cent compared with last year’s Sh45.19 billion.


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