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Safaricom profits drop by 6.8 percent to 68.7 billion

THE STANDARD
BUSINESS
Waiver of M-Pesa transaction charges affected Safaricom profits. [Elvis Ogina, Standard]
The free M-Pesa transactions for amounts below Sh1,000 at the height of the Covid-19 pandemic last year weighed down on Safaricom’s overall earnings for the year ended 2020.
The telco reported a 6.8 per cent drop in profit after tax of Sh68.7 billion for the year ended March 2021 from Sh73.7 billion in the previous period.
During this period, Safaricom enabled Kenyans to reduce the impact of the pandemic by waiving fees for transactions below a Sh1,000, which saw free transactions worth Sh4.4 billion processed.
Service revenue, mostly from voice and data, recorded a marginal decline of 0.3 per cent to close at Sh250.35 billion driven by double-digit growth in mobile data business, which grew by 11.5 per cent to Sh44.79 billion. Amid the coronavirus pandemic, some companies implemented work-from-home arrangements that helped boost Internet usage ....

United Kingdom , Michael Joseph , Peter Ndegwa , Vodacom Group Ltd South Africa , Ethiopian Communications Authority , Group Plc United Kingdom , Ethio Telecom , Sumitomo Corporation Japan , Medium Enterprises , Vodafone Group Plc United Kingdom , Safaricom Chairman Michael Joseph , Vodacom Group Ltd , South Africa , Vodafone Group Plc , Sumitomo Corporation , State Run Ethio Telecom , M Pesa , Covid 19 , ஒன்றுபட்டது கிஂக்டம் , மைக்கேல் ஜோசப் , பீட்டர் நிடேகுவ , எத்தியோப்பியன் தகவல்தொடர்புகள் அதிகாரம் , குழு ப்ல் ஒன்றுபட்டது கிஂக்டம் , எதிதிோ தொலை தொடர்பு , ஸூமிடோமொ நிறுவனம் ஜப்பான் , நடுத்தர நிறுவனங்கள் ,

Safaricom profits drop by 6.8 percent to Sh68.7 billion

THE STANDARD
NEWS
Waiver of M-Pesa transaction charges affected Safaricom profits. [Courtesy]

The free M-Pesa transactions for amounts below Sh1,000 at the height of the Covid-19 pandemic last year weighed down on Safaricom’s overall earnings for the year ended 2020.

The telco reported a 6.8 per cent drop in profit after tax of Sh68.7 billion for the year ended March 2021 from Sh73.7 billion in the previous period.
During this period, Safaricom enabled Kenyans to reduce the impact of the pandemic by waiving fees for transactions below a Sh1,000, which saw free transactions worth Sh4.4 billion processed.
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Service revenue, mostly from voice and data, recorded a marginal decline of 0.3 per cent to close at Sh250.35 billion driven by double-digit growth in mobile data business, which grew by 11.5 per cent to Sh44.79 billion. Amid the coronavirus pandemic, some companies implemented work-from-home arrangements that helped boost I ....

United Kingdom , Michael Joseph , Peter Ndegwa , Vodacom Group Ltd South Africa , Ethiopian Communications Authority , Group Plc United Kingdom , Ethio Telecom , Sumitomo Corporation Japan , Medium Enterprises , Vodafone Group Plc United Kingdom , Safaricom Chairman Michael Joseph , Vodacom Group Ltd , South Africa , Vodafone Group Plc , Sumitomo Corporation , State Run Ethio Telecom , M Pesa , Covid 19 , ஒன்றுபட்டது கிஂக்டம் , மைக்கேல் ஜோசப் , பீட்டர் நிடேகுவ , எத்தியோப்பியன் தகவல்தொடர்புகள் அதிகாரம் , குழு ப்ல் ஒன்றுபட்டது கிஂக்டம் , எதிதிோ தொலை தொடர்பு , ஸூமிடோமொ நிறுவனம் ஜப்பான் , நடுத்தர நிறுவனங்கள் ,

Meagre profits for some lead to longer-term hopes

Meagre profits for some lead to longer-term hopes
10:00 | 12/05/2021
Meagre profits for some lead to longer-term hopes, illustration photo
One of the worldâs largest producers of basa fish, Vinh Hoan JSC, saw its sales rise in all its major markets in the first quarter of the year, with gross profits hitting $11.8 million, up nearly 27 per cent on-year. However, it posted a 14-per-cent loss in profit after tax despite the gross profit gain.
Company chairman Tran Le Khanh explained that the US marketâs consumption is focused on restaurants, while in Europe consumption occurs mostly in supermarkets. Therefore, as restaurants gradually reopen in the US, so do exports. However, Vinh Hoan reported that its profit only amounted to $5.7 million. ....

Republic Of , United States , South Korea , Bui Viet Quang , Vinh Hoan , Tran Le Khanh , Ministry Of Industry , Statistics Office , General Statistics Office , Song Hong Garment , Viet Quang , Suez Canal , Import Export , குடியரசு ஆஃப் , ஒன்றுபட்டது மாநிலங்களில் , தெற்கு கொரியா , வின் ஹோந் , அமைச்சகம் ஆஃப் தொழில் , புள்ளிவிவரங்கள் அலுவலகம் , ஜநரல் புள்ளிவிவரங்கள் அலுவலகம் , பாடல் ஹாங் ஆடை , வியெட் குவாங் , ஸூயெஸ் கால்வாய் , இறக்குமதி ஏற்றுமதி ,

California finally going after Nestle for stealing tens of millions of gallons of groundwater for corporate profit

Officials in the Golden State have drafted a cease-and-desist order against Nestle for allegedly stealing millions of gallons of water from the forests of San Bernardino. Nestle, which bottles [.] ....

United States , San Bernardino , Amanda Frye , Division Of Water Rights , Public Policy Institute Of California , Natural News , Golden State , California Water Resources Control Board , North American , Southern California , Public Policy Institute , Current Events , Good News , Water Amp Drought , Ground Water , ஒன்றுபட்டது மாநிலங்களில் , சான் பெர்னார்டினோ , அமண்டா வறுக்கவும் , பிரிவு ஆஃப் தண்ணீர் உரிமைகள் , பொது பாலிஸீ நிறுவனம் ஆஃப் கலிஃபோர்னியா , இயற்கை செய்தி , தங்கம் நிலை , கலிஃபோர்னியா தண்ணீர் வளங்கள் கட்டுப்பாடு பலகை , வடக்கு அமெரிக்கன் , தெற்கு கலிஃபோர்னியா , பொது பாலிஸீ நிறுவனம் ,

Results: Saudi Aramco's Q1 net profit rises by 30%

Results: Saudi Aramco s Q1 net profit rises by 30%
Saudi Aramco
Saudi Arabia s oil giant Aramco said on Tuesday that its net profit increased by 30 per cent in the first quarter of 2021, due to higher oil prices and an improved economic environment amid the pandemic.
Its net income this quarter reached $21.7 billion compared to $16.7 billion in the same period last year, reports dpa news agency.
The company said it will distribute cash dividends totalling $18.8 billion, due in the second quarter. Given the positive signs for energy demand in 2021, there are more reasons to be optimistic that better days are coming.
And while some headwinds still remain, we are well-positioned to meet the world s growing energy needs as economies start to recover, Aramco President and CEO Amin Nasser, said in a statement. ....

Saudi Arabia , Amin Nasser , Saudi Aramco , சவுதி அரேபியா , அமின் நாசர் , சவுதி அரம்கோ ,