Thursday, November 5, 2009

Safaricom Q3 Profits Up 6.7%

Kenya's leading mobile operator by subscribers Safaricom has reported net profit of KES6.63 billion (USD84.15 million) for the six months ended 30 September 2009, up 6.7% from KES6.21 billion in the same period a year earlier.
Consolidated revenues for the period climbed by 17.8% year-on-year to KES40.6 billion as customers flocked to the firm's M-PESA mobile payment scheme. Operating expenses for the first half of the 2009/10 financial year jumped by 23.8% from KES19.5 billion in 2008 to KES24.15 billion a year later.
The company added over 2.54 million net new mobile customers in the twelve months ended 30 September 2009 with a total subscriber base of 14.51 million.
Meanwhile, interest in Safaricom's M-PESA scheme, which allows consumers to transfer money via their handset, leapt by 93% year-on-year, with nearly eight million registered users by the end of September 2009.

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