A client using a mobile money service Safaricom's M-Pesa. The telecom
has recorded double digit growth buoyed by mobile money and data
services. FILE PHOTO | NMG
Safaricom, the largest telecommunications firm in Kenya, has
reported a 14.3 per cent rise in its net profit for the year ended March
2018.
The telco announced on Wednesday that its
full-year after-tax earnings grew to Ksh55.3 billion ($553 million) from
Ksh48.4 billion ($48.4 million) the previous year.
The growth was buoyed by mobile money and data services which saw the company post $2.24 billion in revenues.
M-Pesa
revenue rose by 14.2 per cent to Ksh62.9 billion ($62.9 million) while
data surged up 24 per cent to Ksh36.4 billion ($364 million).
In an investor briefing on Wednesday morning, Chief
Financial Officer Sateesh Kamath said the board had recommended a
dividend payout of Ksh44.1 billion ($441 million), a 13.5 per cent
increase from the previous year.
Shareholders will receive a payout of Ksh1.10 ($0.011) per share.
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