Safaricom’s Yearly Profit Rises to Ksh. 55.3 billion

Business

Kenya’s largest telecommunications company has announced that its profit for the year ended 31st March 2018 has risen to Ksh. 55.3 billion.

This translates to a 14.3 percent increase it is full year profits, after tax. In the previous financial year, the company raked in Ksh. 48.4 billion.

Service revenue grew to Ksh. 224.54 billion, representing a 10 percent increase from the previous year’s Ksh. 204.11 billion.

Voice revenue grew to Ksh. 95.64 billion, representing a 2.3 percent increase from the previous year’s Ksh. 93.46 billion.

SMS revenue grew to Ksh. Ksh 17.72 billion, representing a 6.2 percent from the previous year’s Ksh. 16.68 billion.

Revenue from mobile data grew to Ksh. 36.36 billion, representing a 24 percent increase from the previous year’s Ksh. 29.33 billion.

M-Pesa is still the company’s most profitable entity, earning Ksh. 62.91 billion, 14.2 percent up from the previous year’s Ksh. 55.08 billion.

The company also announced that the number of its customers has risen to Ksh. 29.57 million, representing a 5.1 percent increase.

The number M-Pesa customers active within the last 30 days grew by 8.0 percent to reach Ksh. 20.55 million, from Ksh. 19.02 million as at 31st March 2017.

The company’s CEO Bob Collymore is away on medical leave but will come back to take the reigns.

Download Safaricom’s condensed audited results for the year ended 31st March 2018.

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