Safaricom PLC, the largest telco in Kenya, has reported a 21.7% increase in net profitability for the first half of the year.
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What was Safaricom’s revenue?
During the period under review, group service revenue increased by 14% to reach a half-year high of KSh 181.4 billion.
According to the financial reports released on Thursday, November 7, the Nairobi Securities Exchange (NSE) listed company’s comprehensive net profit for the period was KSh 36.7 billion.
The Kenyan division reported a net profit of KSh 47.5 billion, which represents an increase of 14.1%.
Safaricom’s chief executive officer (CEO), Peter Ndegwa, said the telco will continue growing its core business while expanding into new services.
“This performance, which comes at a time when we are marking 24 years of connecting and transforming Kenyans’ lives, reflects the relentless execution of our strategy,” Safaricom CEO Peter Ndegwa said.
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“We are proud of the value that we have given our customers through the use of technology,” he added.
Source: TUKO.co.ke
