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.
M-Pesa revenues grew from Sh41.5 billion to Sh55.08 billion while data revenues grew by 38.6 per cent to Sh29.29 billion.
Voice service (incoming and outgoing) revenue rose by 2.9 per cent to Sh93.5 billion while SMS revenue declined by 3.7 per cent to Sh16.7 billion.
The Safaricom board has recommended a dividend of Sh0.97 per share – an increase of 27.5 per cent from the previous year.
The proposed dividend pay-out amounts to Sh38.86 billion, which represents 80 per cent of Safaricom’s net profit for the year.
Courtesy of Business Daily