Safaricom posts Sh55.29 billion profit as Bob Collymore set to return

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Photo Courtesy:Telecommunication company Safaricom announcing it's Full Year results on Wednesday 9 may 2018.

Kenya’s largest telecommunication network on Wednesday announced it’s Full Year results  at the Michael Joseph center during the investors briefing.The company posted an annual profit of Sh55.29 billion.

This is a 14 percent growth in the year ending March 2018.Speaking from London via video link Safaricom’s CEO  Bob Collymore announced of his return back to Kenya.He has been on medical leave since October last year, and noted that he was making good progress in his treatment and would be back as his doctors gave him an assurance that his immune system could  withstand infections associated air travels.

“I look forward to being back in action in Nairobi soon,”said Collymore

“To achieve these results we sharpened our focus on putting our customers first, delivering relevant products and services, and organizational effectiveness; a strategy that was exceptionally well executed considering the challenging business climate last year,” said Mr. Collymore.

Safaricom reported net income growth of 14.1 percent to Sh55.29 billion for the year ending March 2018. Both M-Pesa and data grew to double digits. The sustained demand for data remains a key growth driver for the company, with mobile data revenue increasing by 24pc to Sh36.36 billion.

Safaricom chief financial officer Sateesh Kamath said the business continues to remain strong, generating healthy cash flow.
“In 2019, we look to drive long-term shareholder value by deploying next-generation network services, leveraging data analytics and segmentation, guided by our purpose of transforming lives to turn innovative ideas into realities,” said Sateesh Kamath said.