Safaricom H1 net profit up 23 per cent to Sh18.1bn

Safaricom has announced a 23 per cent growth in net earnings in the six months to September to Sh18.1 billion compared to Sh14.7 billion the previous period.

Revenues rose 12 per cent to Sh84.9 billion driven by a 24 per cent surge in non-voice income such as data and M-Pesa and a 4 per cent growth in voice revenue.

The largest company by market capitalisation on NSE shrugged off competition to increase its customers by 3 million to 25.1 million in the period under revenue.

Voice revenues grew 4 per cent to Sh45.2 billion while M-Pesa revenues amounted to Sh19.4 billion and messaging revenues were at Sh8 billion.

Voice revenues contributed to 53 per cent of total earnings down from 58 per cent the previous period.

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