AccessKenya's profits jump 62 pct on fibre network demand
NAIROBI, March 12 |
NAIROBI, March 12 (Reuters) - Kenyan internet service provider AccessKenya posted a 62 percent rise in profits on Tuesday, helped by a rise in corporate customers attracted by its high-speed fibre network, the company said.
Internet service providers (ISPs) and telecoms companies such as Safaricom have embarked on significant infrastructure development in east Africa's biggest economy to keep up with growing demand.
Chief Executive Jonathan Somen said the company added 700 corporate customers last year, with planned infrastructure investments in key business areas in Nairobi and Mombasa expected to further enhance growth.
"(We) see a robust picture for future growth based on fibre and on cloud and other value added services," Somen said.
Access said its pretax profit rose to 212 million shillings ($2.48 million) in 2012, up from 130.9 million shillings in the previous year.
Revenues increased 9 percent to 1.9 billion shillings, despite lower average revenue per user (ARPU) while earnings per share (EPS) went up to 0.69 cents in 2012 from 0.50 cents in the previous year, the statement said. ($1 = 85.3750 Kenyan shillings) (Reporting by Beatrice Gachenge; Editing by Greg Mahlich)
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