Sonatel’s Profit Rise Continues with 6.6% in 2014
Senegal’s telecommunication giant Sonatel has announced Monday, a net profit rise of 6.6 percent to 97.67 billion CFA francs ($201.37 million) in the first six months of 2014.
The company is enjoying a steady rise in profit, with an 11.1 percent increase in 2013 (190 billion CFA francs ($400 million) and a similar 11 percent in 2012 (171 billion CFA francs ($351.47 million). Sonatel’s profit had fallen by 16 percent in 2011, 154.4 billion CFA francs ($317.34 million) from 184.8 billion CFA francs ($378 million) a year earlier, due the end of its tax exemptionin Mali.
However, it as has enjoyed a turnaround in fortunes since then, and in the first half of this year its turnover stands at 398.47 CFA francs ($819 million), a rise from the 356.82 billion CFA francs ($733.4 million) of the same period last year. The company, in April, attributed its sustained success to its various transformation projects to improve operational excellence and strengthen its leadership value in all the countries in which it has a presence.
Part owned by France’s Orange S.A, Sonatel dominates the telecoms market of Senegal and Mali where it controls a 63 percent and 64 percent share respectively in 2013. It also has a significant pull of 34 percent and 39 percent in Guinea and Guinea Bissau, according to 2013 data.