Safaricom profit hits Sh55.3bn as Collymore return expected

Citizen Business

Business / Citizen Business 121 Views comments

Telecom operator Safaricom continued on its profitability track posting 14 percent growth in the year ended March 31. Backed by strong data and M-Pesa revenue growth, Safaricom’s net profit rose to Sh55.3 billion from Sh48.4 billion a year earlier. Defying boycott calls associated with the prolonged 2017 presidential elections, Safaricom revenue grew 10 percent to Sh224.5 billion. Briefing investors via video link from London, Safaricom chief executive officer Bob Collymore said focus on developing customer specific products, enabled the busine...