Safaricom net profit rises 31pc to Sh23 billionMonday May 12 2014
Safaricom has reported a 31 per cent rise in after tax profit for the year ended March 2014. This is buoyed by strong performance in voice and data segments.
The company made Sh23 billion in profits after tax, against the Sh17 billion recorded in the previous reporting period.
Addressing investors on Monday, Chief Executive Bob Collymore said that the company recorded double digit growth across all its service revenue streams.
“Once again we have demonstrated our relentless dedication to growing shareholder returns through superior commercial performance across our entire service portfolio as evidenced by our strong financial results,” Mr Collymore said.
Revenues increased by 16 per cent to Sh144.7 billion.
Voice service revenue, which constitutes 60 per cent of total inflow, grew at 12 per cent to Sh86.3 billion.
Non-voice revenues, comprising of financial services such as M-Pesa and data services, increased by 28 per cent to Sh52.1 billion.