M-Pesa, data drive Safaricom half-year profit to Sh14.7bn

Robust growth in data and mobile money services in the six months to September thrust Safaricom to post record-breaking earnings since its listing in 2008.

The telecoms operator recorded Sh14.7 billion net profit for the period from Sh11.3 billion posted for the six months to September 2013, representing a 30 per cent rise.

Total revenue stood at Sh79.3 billion having grown by Sh10.1 billion or 14 per cent compared to Sh69.2 billion for similar period last year.

Voice revenue grew by 6.4 per cent, accounting for 55 per cent of the total revenue, while non-voice service revenue which includes M-Pesa, data and messaging rose by 26.6 per cent accounting for 40 per cent, with devices and other revenues contributed the balance of 5 per cent.

Mobile data revenue grew by more than a half to Sh6.5 billion, while M-Pesa increased by a quarter to Sh15.6 billion to contribute 19.6 per cent of the total revenue.

Safaricom sees mobile Internet services as presenting a huge growth opportunity, with most data services consumed over handsets and other handheld devices.

The firm did not declare an interim dividend.

The telco announced its results shortly after its stock closed trading at Sh12.2 at the Nairobi Securities Exchange where it has grown by 11.98 per cent this year.