Safaricom beats expectations as profit soars 20% to $550M

Safaricom, Kenya’s largest listed company beat analyst expectations with a 19.9% jump in its full year 2018 net income to a record Sh 55.3 Billion.

The telco’s service revenue for the period grew 10% to Sh 224.54 billion, mainly driven by Mobile data revenue, Fixed service revenue and M-Pesa. Total revenue for the period grew by 9.8% to Sh 234 Billion.

M-Pesa

The company maintained a steady momentum in mobile money business, adding 2.1 million new M-PESA customers and achieving revenue growth of 14.2% to Sh 62.91 billion. M-PESA now contributes 28% of Safaricom’s service revenue from 20.9% in FY 2015.

Data

The telco’s mobile data revenue increased by 24% to Sh 36.36 billion.

Proposed Dividend

Safaricom’s board proposed a dividend payment of 1.10 per share, an increase of 13% compared to the previous year, this amounts to Sh 44.1 Billion.

Bob Collymore Return

Speaking from London during the company’s Full Year investor briefing, Mr. Collymore, who has been on medical leave since October last year, noted that he was making good progress in his treatment.

“I look forward to being back in action in Nairobi soon,” Collymore said as he announced.

Duh hongereni

One more reason why safaricom needs to be broken to smaller business units and laws for competition changed. Exploitation is when a company make $500 mln and that money is not coming from export of services/goods

Mkikuyu- Akili timamu said:

One more reason why safaricom needs to be broken to smaller business units and laws for competition changed. Exploitation is when a company make $500 mln and that money is not coming from export of services/goods

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Jamaa wa tandale,calculate that money to your madafu shit

They will break the 1 billion dollar profits soon.

joto la jiwe mulisaaa njoo uone venye uchumi wa kenya unavyo poromoka *****😀😀😀😀

Hapa kwa hapa. Kenya isonge mbele.

joto la jiwe leta makende uku😀😀😀

Congrats on the achievement...Bob Con Me More(joking) Bob Collymore is back...

logania said:

Congrats on the achievement...Bob Con Me More(joking) Bob Collymore is back...

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And we welcome him like we do welcome any other great thinkers from any country, unlike Tanzania where a mention of some Sylvia from Kenya caused panic countrywide.

MK254 said:

And we welcome him like we do welcome any other great thinkers from any country, unlike Tanzania where a mention of some Sylvia from Kenya caused panic countrywide.

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Wow bruv.....This Kenya vs Tz beef is getting to you bro...I always placed you above that silly beef...

I was complimeting you guys not disparaging you...Some of us from Tz only see where to make huge profits businesswise irrespective of country.....I didn’t have a problem with Sylvia...Didn’t even read that thread..

Anyway good for you Kenyans...I have heavy business investments in Kenya and elsewhere..Thats the main reason for my interest in that region..If Kenya wins I win...

Kumbe failed state inaweza make profits. Hahahaha Very proud of our failures.

If these funds are put to good use, I can see stadiums, airports, schools, hospitals, rails, light rails and a section of Lapsett being done before or by 2022

Mkikuyu- Akili timamu said:

One more reason why safaricom needs to be broken to smaller business units and laws for competition changed. Exploitation is when a company make $500 mln and that money is not coming from export of services/goods

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people are complaining about the exploitation in Safaricom alafu mafala wa Jubilee wanakuja kusifia😱😀
Check out @Wakilimutichilo’s Tweet:

Maendeleo Chap Chap na Jubilee wapo busy nakusifia😀😀
Check out @kevotetv’s Tweet:

3rd man said:

Jamaa wa tandale,calculate that money to your madafu shit

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Maendeleo Chap Chap na Jubilee mnasifia😀😀 Wazee wasifa zakijinga😀😀
Check out @TheMwita’s Tweet:

Jay456watt said:

If these funds are put to good use, I can see stadiums, airports, schools, hospitals, rails, light rails and a section of Lapsett being done before or by 2022

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Anzeni kwa kulipa mkopo wa mchina😀😀

mulisaaa said:

people are complaining about the exploitation in Safaricom alafu mafala wa Jubilee wanakuja kusifia😱😀
Check out @Wakilimutichilo’s Tweet:

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Maneno ya mfa maji, kampuni ni mingi kuna airtel, telkom etc mtu akiskia ananyayaswa ahame tu safaricom, gok ishapocket 40bn ksh($400mln)alafu unayamba nini hapa😀😀😀

mulisaaa said:

Anzeni kwa kulipa mkopo wa mchina😀😀

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we potea bana..have u seen any mention of ldc tz here? these are citizens of east africa's most advanced economy speaking...

NairobiWalker said:

Hapa kwa hapa. Kenya isonge mbele.

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Isonge mbele huku unalambishwa kundu na Jubilee na Maendeleo Chap Chap😀😀
Check out @NairobiExposed’s Tweet: