@bobCollymore
Another year of strong growth across all metrics. Revenues up 13.8%. EBITDA 44.5%. Net income up 19.6% #SafaricomFYResults

"We are issuing 1 Loan every second via M~Shwari and @KCBGroup M~Pesa"

Time to digest the numbers in full

At first glance seems equal growth as last year, stand out being MPesa Other categors (loans, Lipa Na, Sportspesa). Price seems to have roundly baked in the results.


FY16 Results Presentation
FY16 Press Commentary
FY16 Press Release


Commendable effort by the team 4th year in a row.

At current prices, Safaricom now has a P/E of ~18 and is growing EBITDA at about 16.7% for two years now. This year has the lowest growth since 2012. Thus the law of large numbers will soon give more pressure coupled with the hubris that normally follows years of outperformance.

I obviously have to ignore the large depreciation, impairment & amortisation line, which just like in the case of banks can be over/under provided for giving a shine to net profit growth

True.

Coz as it is now, we have to channle money from bank A to Mpesa then to bank B.

Few banks have direct mibile money apps, and the cost levied is still out of this waold.

The banks had the idea to do this last year, then it all went quiet