SCOM | Safaricom HY'25 Earnings Note

    Safaricom Group posted a 17.7% y/y decline in shareholder net earnings for HY’25 to KES 28.12Bn, primarily prompted by foreign exchange reforms in Ethiopia. Group revenues grew 15.1% y/y to KES 189.42Bn driven largely from value-driven double digit growth in M-Pesa and Mobile Data.

    Recommendation - We maintain our HOLD recommendation on Safaricom as earnings remain under pressure. At the current market price, the stock is trading at P/E ratio of 10.8x and a P/B ratio of 4.0x.

     

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    AIB-AXYS Africa
    AIB-AXYS Africa Ltd is the fusion of two established companies; AIB Capital Limited and Apex Africa Capital Limited, both with over 25 years of experience in the Securities market. With the solid reputation and experience of the professional teams, we leverage talent and networks to better service businesses and investors looking to capitalize on the African growth story, and its vibrant financial sector.
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