Safaricom profits rise to Sh38B in last year one

11 May 2016 | by
Safaricom profits rise to Sh38B in last year one

Safaricom on Wednesday announced a net profit of 19 percent to Sh38b up from Sh31b same period previous year.

The mobile telephony firm reported growth in most business lines. 
The earnings before interest, taxation, depreciation and amortisation (EBITDA) for the full-year to March 2016 rose 17 percent to Sh83.1 billion Capital expenditure for the year to March 2017 was forecast at between 32 billion and 33 billion shillings. 
For the year to March 2016, revenues from M-Pesa climbed 27 percent to Sh41.50 billion as customers with even basic handsets use them to increasingly pay bills, send money and make other transactions. 
Mobile data revenue in the year to March 2016 climbed 43 percent to Sh21.2 billion, but voice revenues climbed more slowly, by just 4 percent to Sh90.8 billion.

“Data remains our fastest growing revenue stream and we are focused on growing it further through accelerating smartphone penetration, growing 3G and 4G users, offering relevant content,” said the firm in a press statement.

The second largest growth was in M-Pesa services, which expanded by 27.2 per cent to Sh41.5 billion.

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