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Technology

Safaricom's half-year net profit down 47pc

Safaricom chief executive Bob Collymore.  File
Safaricom chief executive Bob Collymore. File 

Safaricom’s half-year net profit dropped 47 per cent to Sh4 billion from Sh7.6 billion last year.

Total revenues grew by a marginal 5 per cent to Sh49.6 billion from Sh47.1 billion, driven by a drop in voice revenues to Sh31.4bn from Sh33.3bn.

Operating expenses surged 22.6 per cent to Sh26.5 billion from 21.6 billion driven by weak shilling and high inflation. Losses from unrealised foreign exchange stood at Sh1.3 billion.

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