Safaricom annual profit jumps 67% and beats expectations

11 articles · Updated · Bloomberg · May 7

Net income reached 99.7 billion shillings, or $772.3 million, in the year to March, above analysts’ 92.4 billion-shilling estimate.
The Kenyan telecoms group said improved performance at its Ethiopia unit, where losses narrowed, helped drive the stronger-than-expected result.
The profit increase marks Safaricom’s third consecutive annual rise and underscores the growing importance of its expansion into populous Ethiopia.

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