Vodacom Kenya Unit Posts Record Profit, Cuts Ethiopia Losses

East African telecommunications operator Safaricom Plc’s annual profit jumped 67%, beating expectations, after its unit in populous Ethiopia narrowed its loss.

In the year through March, overall net income for the Vodacom Group Ltd. unit was 99.7 billion shillings ($772.3 million) - excluding the impact currency weakness in Ethiopia - exceeding the consensus estimate by analysts in a Bloomberg survey.