Safaricom announces Sh38 billion full year net profit

NAIROBI, KENYA: Safaricom on Wednesday said its full year net profit grew by 19 percent to Sh38b up from Sh31b same period previous year.

The telco reported growth in most business lines. The earnings before interest, taxation, depreciation and amortisation (EBITDA) for the full-year to March 2016 rose 17 percent to Sh83.1 billion

Capital expenditure for the year to March 2017 was forecast at between 32 billion and 33 billion shillings.

For the year to March 2016, revenues from M-Pesa climbed 27 percent to Sh41.50 billion as customers with even basic handsets use them to increasingly pay bills, send money and make other transactions.

Mobile data revenue in the year to March 2016 climbed 43 percent to Sh21.2 billion, but voice revenues climbed more slowly, by just 4 percent to Sh90.8 billion.