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Safaricom posts Sh17.5bn post-tax profit

Safaricom CEO Bob Collymore (right), chair of the firm's board of directors Nicholas Ng’ang’a (centre) and the chief financial officer John Tombelson during the release of the full year financial results at Safaricom House on Waiyaki Way May 14, 2013.  Photo/SALATON NJAU
Safaricom CEO Bob Collymore (right), chair of the firm's board of directors Nicholas Ng’ang’a (centre) and the chief financial officer John Tombelson during the release of the full year financial results at Safaricom House on Waiyaki Way May 14, 2013. The telco's net profit went up 39 per cent to Sh17.5 billion. Photo/SALATON NJAU  Nation Media Group

Telecommunications giant, Safaricom, has announced a 38.9 per cent increase in profits buoyed by M-Pesa, SMS and data revenues.

Safaricom Tuesday morning announced a Sh17.5 billion after-tax profit for the year ended March 31, 2013 compared to Sh12.6 billion posted last year.

Its revenues grew to Sh124.3 billion with M-Pesa contributing Sh21.8 billion, SMS Sh10.1 billion, data Sh8.4 billion with voice revenues being Sh77.6 billion.

“Most notable was our growth in non-voice service revenue with a 29 per cent increase in the year, underpinning our strategy to diversify our revenue channels,” said Bob Collymore, Safaricom CEO.

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Safaricom share has been on a rally at the Nairobi Securities Exchange as investors anticipated a robust performance and higher dividend payout.

Monday the counter closed at Sh6.95 per share up 21 per cent in the last three months.

The telecom will pay a dividend of Sh0.31 per share up from Sh0.22 paid out last year.

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