Safaricom full-year profit hits Sh55.3bn as Collymore makes comeback

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Safaricom full-year profit hits Sh55.3bn as Collymore makes comeback

By BUSINESS DAILY REPORTER May 9th, 2018 1 min read

Safaricom has announced Wednesday that its net profit for the year ended March 2018 grew to Sh55.3 billion, compared to Sh48.4 billion the year before on the back of M-Pesa and data revenues.

This represents a 14.3 per cent growth of its full-year after-tax earnings.

M-Pesa revenue grew 14.2 per cent to sh62.9 billion while mobile data was up 24 per cent to sh36.4 billion in the period.

MEDICAL CLEARANCE

The chief executive of Kenya’s largest telecommunications firm, Bob Collymore, also announced that he would be making a return to the helm.

In a video message shared to staff and shareholders, he said he is awaiting medical clearance to travel back to the country.

While presenting the results Wednesday morning, Safaricom Chief Finance Officer (CFO) Sateesh Kamath said the board had recommended a dividend of Sh44.1 billion, an increase of 13.5 per cent form the previous year.

It will be paid at Sh1.10 a share.

Here is how Kenyans on Twitter reacted to Safaricom’s profits.

Safaricom profits should now be comparable with corporates from South Africa.
East and central africa they are passed them

— Willis Owiti (@WillisOwiti) May 9, 2018

The profits Safaricom currently makes are now a matter of national pride. Proof of possibilities when mediocre is absent, proof of potential. #SafaricomFYResults

— kelvin karanja (@karanjakev) May 9, 2018

Safaricom, my service provider proud of making profits in billions yet most of that cash is thieved from our youths and the underprivileged by charging exorbitant rates. Most borrow credit almost everyday and are charged at the rate of 10%/day !!! 3650%/year!!!

— Wasusui (@wasusui) May 9, 2018

Safaricom with all its stellar profits owes Nairobi's skyline a seriously tall corporate tower.

— Boretz ?? 2?19 (@aboreto2) May 9, 2018

55B in profits wuueh!, safaricom hawataki mchezo!

— Kilogram. (@Boynayo) May 9, 2018

Hio safaricom full year results najua wata announce profits za sigiste billions after tax ?

— dede (@dede_utd) May 9, 2018

55.3 billion profit for safaricom year ending…mark you .. this is after tax- before tax, 79.1 billion ?

— Erick Charlie ???? (@Charlie_Jr4) May 9, 2018