Safaricom remains profitable

26 Jun 2007

Safaricom Kenya has reported a record full-year profit of KES17.2 billion (USD265 million) for the twelve months to the end of March 2007, up 41% year-on-year. Net profits were up 42.5% to KES12 billion, while sales grew 36% to KES47 billion. The results have reinforced Safaricom’s position as one of the most profitable companies in East Africa. Subscriber numbers were up 54% over the year to reach 6.1 million, with 97% of these using pre-paid packages. The firm invested KES16 billion in network upgrades and expansions in 2006/07. ‘This growth in both subscriber numbers and turnover is the result of the continuing increased network rollout to the rural areas and the new products and services introduced during the year,’ said Safaricom’s CEO, Michael Joseph.

Kenya, Safaricom