AccessKenya Group today announced KSh109 million after tax profit for the 2011 financial year, up from KSh8M loss reported in 2010. The CEO Jonathan Somen attributed the improved performance to significantly increased internet subscriptions and a highly robust network that has spurred customer growth owing to its reliability in the market.
According to Mr.Somen:
Our corporate leased lines grew from 3,900 to 4,700 compared to the same period in 2010. This is an indication that we remained steadfast in our core business – corporate data and Internet solutions. More and more customers have realized that we have the best network and are signing up for service.
Our total revenues increased by 2% last year despite the continued fall in Average Revenue per User experienced across the industry. Due to the migration onto our own networks, we have seen our gross margins rise to 79% up from 67% in 2010
The AccessKenya reported that their Internet revenue grew by 7% in the first half of 2011 and by 6% in the second half of 2011.