Safaricom PLC on Friday announced a Ksh31.5 Billion Net Profit in their Audited Results for the period ended 30 September 2018.
The impressive results were attributed to M-Pesa and revenue growth which recorded a rise of 18.2% and 10.8% respectively.
Speaking during the Safaricom half-year results announcement at Michael Joseph Center, CEO Bob Collymore expressed his pleasure in the progress the company had made in the first half of the year.
We achieved solid results driven by strong M-PESA gains, further diversification of our revenue mix to tap into new growth areas and investment in new revenue streams, which contributed to a double-digit increase in Earnings Per Share (EPS), and free cash flow," he stated.
The leading telco registered service revenue growth of 7.7% to Ksh118.2 Billion derived from a strategic progress where Safaricom continued to invest heavily in their network, enhancing quality and coverage, with 4G now extending to 53%, up 21ppts YoY.
"We continue to leverage the power of mobile technology and diversify our sales mix with M-PESA now accounting for 30% of total service revenue, up 3ppts YoY, and are excited about the future prospects of portfolio expansion and diversification," the report read.
Collymore explained that as part of their 18th-anniversary celebrations, the telco unveiled a new brand campaign aimed at reinforcing their commitment to customers.
"The campaign, dubbed “Nawe Kila Wakati”, is expected to deepen customer engagement by giving access to more affordable voice, data and messaging services.
"In so doing, Safaricom hopes to endear itself to Kenyans as an enabler, a brand that allows customers to communicate, socialize and do business in line with our strategy of putting the customer first and delivering relevant products and services," he added.
He affirmed that guided by the brand purpose of 'Transforming Lives', Safaricom would continue to strengthen their support for community projects and invest in shared value propositions with the potential to resolve some of Kenya's most pressing challenges.
Highlighting projects such as: M-TIBA (the mobile health wallet), DigiFarm (a mobile-based agri-business solution) and Shupavu291, (a learning tool) and the recently officially opened M-Pesa Foundation Academy, Safaricom leverages the power of mobile technology to develop, take to market and scale propositions in health, agriculture and education, impacting livelihoods positively.