Kenyas biggest telecoms-operator, Safaricom, has reported a 24% - TopicsExpress

Kenyas biggest telecoms-operator, Safaricom, has reported a 24% increase in untaxed profit, for the year ending March 31st 2014. Earnings before interest, tax, depreciation and amortisation, amounted to around 700 million dollars, from 566 million dollars the year before. The firm says revenue grew 16%, to 1.7 billion dollars while costs rose, at a slower pace of 10 percent. Safaricom, which is 40%, owned by Britains Vodafone will issue Earnings per share of 0.57 shillings and raise its dividend to 0.47 shillings per share. Going forward the telecom operator says it plans to invest heavily on cashless transactions using its biggest cash cow, m-pesa mobile transfer services.

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