Safaricom Profits Up 44%

Safaricom, Kenya’s largest mobile network operator by subscribers, said full year profit jumped 44%, as revenue from data services - including its mobile money transfer service MPESA - increased. Net income climbed to KES15.15 billion (USD190 million) in the twelve months to 31 March 2010, from KES10.5 billion a year earlier.

Sales climbed 19% to KES83.96 billion. Safaricom, which is 40% owned by Vodafone, competes with Telkom Kenya, Zain and Essar Telecom Kenya; at the end of March it claimed 15.79 million customers.