Safaricom net profit for the six months through September this
year jumped 14.4 percent to Sh35.65 billion on strong M-Pesa and mobile
data revenue growth that offset a decline in voice and messaging (SMS)
revenues.
This has set the telco on a course for the eighth straight year of increasing bottom-line.
During
the half year period, M-Pesa revenue grew by 18.2 percent to Sh41.97
billion as mobile data revenue increased by four percent to Sh19.78
billion.
DECLINE
Voice
service revenue (drawn from incoming and outgoing calls) which makes up
the bulk of the telco’s revenues declined 1.4 percent to Sh46.87
billion while messaging revenue declined by 11 per cent to Sh8.6
billion.
"Revenue growth for the half year to
September 2019 was 5.3 percent driven by robust performance across
M-Pesa and fixed data and strong customer growth offsetting decline in
the traditional revenue streams and soft performance on mobile data,"
said Safaricom outgoing acting chief executive Michael Joseph while
announcing the results at the firm’s headquarters in Nairobi on Friday.
During the period, Safaricom’s service revenue was up 5.3 percent per cent to Sh124.32 billion.
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