Safaricom half-year profit rises to Ksh18 billion

Safaricom has announced a 23 per cent growth in net earnings in the six months to September to Kshh18.1 billion compared to Ksh14.7 billion the previous period.

Revenues rose 12 per cent to Ksh84.9 billion driven by a 24 per cent surge in non-voice income such as data and M-Pesa and a 4 per cent growth in voice revenue. The largest company by market capitalisation on NSE shrugged off competition to increase its customers by 3 million to 25.1 million in the period under revenue.

Voice revenues grew 4 per cent to Ksh45.2 billion while M-Pesa revenues amounted to Ksh19.4 billion and messaging revenues were at Ksh8 billion. Voice revenues contributed to 53 per cent of total earnings down from 58 per cent the previous period.

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