Safaricom records a 19% after tax profit

Safaricom CEO

Telecom operator Safaricom beat its full year profit projections to hit a record high of Sh38 billion for the year ended March 31. The result marked 19 percent growth from the Sh32 billion the firm post during a similar period in 2015.

The most profitable company in east Africa continued to drive growth in its data and mobile money businesses. By the half year Safaricom projected its full year profit would hit Sh36.2 billion.

During the period under review, Safaricom non voice revenue hit Sh86.9 billion while earnings before interest, taxation, depreciation and amortization (EBITDA) in the full year to March rose 17 percent to Sh83.1 billion.

The board has recommended a dividend of 76 cents per share, 19 percent more than the 64 cents they received last year.

More to follow….

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Story By Michael Karanja
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