Safaricom Annual Profit Rises 18.3 Per Cent to Sh 48bn

Kenya’s leading telecommunications firm Safaricom has announced a 27 .1 per cent net profit rise to Sh48.4 billion in the year to March 2017.

The net income includes a one-off adjustment of Sh3.3 billion — which Safaricom said was a write-back of a legal cost provision that had not materialised.

Total revenue crossed the Sh200 billion mark for the first time to stand at Sh212.9 billion, an 8.8 per cent rise.

The revenue growth is backed by a strong performance in mobile money M-Pesa and data while traditional services like voice remained resilient.

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