West African network provider Sonatel SA has reported an increase in annual net profit by 11 percent to 171 billion CFA francs (US$349 million).
Sonatel, based in Senegal and part-owned by France Telecom, also reported that turnover rose by 4.3 percent to 663 billion CFA.
The telecommunications company currently operates in four countries. Its market share in Mali is 64 percent, in Senegal 63 percent, in Guinea 34 percent and in Guinea Bissau it is 39 percent.
Gabrial Fall, an analyst who also chairs the board of the regional West Africa BRVM stock exchange, told Reuters: “It’s quite simply due to their market position. They resisted competition better than some expected. They fought. They did what was necessary to keep their market share.”
The operator, which benefited from an end to surtax on international calls in Senegal in 2012, said it will pay a net dividend of 1,350 CFA francs per share on May 3.