Safaricom financial results…. still minting

Key highlights of the  period ended 30th Sept 2009.

- The active subscribers increased from 11.96M to 14.51M by 21.4% and around 77.5% market share.
- M-PESA now has 7.99M registered users almost doubling from 4.14M last year.
- Revenues hit Kes:40.7Bn from Kes:34.5Bn last year
- Data services which include SMS and M-PESA almost doubled to Kes:7.20Bn
- Profit After Tax hit Kes:6.63Bn from Kes:6.22Bn last year.
- Capital expenditure was down however to Kes:8.53Bn from Kes:10.04Bn last year.
- Bringing total capital investment since inception of Safcom to Kes:128.3Bn.

Concerns:
Increased competition from the other three mobile players and more data players, a challenging regulatory regime, persistently high inflation (reducing disposable income and increasing operating expenses), increasing power/energy costs, declining voice ARPUs and higher costs of funding as key challenges.

Opportunities:
Expect significant growth from data services and plans to continue spending aggressively on its network in order to maintain its market position and offer new voice and data (incl. MPESA) products.

Download here the complete release from Safaricom.