|
|
Kenya: Kenol/Kobil's Turnover for 6 Months Doubles
 |
 |
|||||||||
|
||||||||||
|
|
|||||||||
|
||||||||||
The Nation (Nairobi)
7 May 2008
Posted to the web 7 May 2008
Nation Reporter
Nairobi
Regional petroleum vendor, Kenol Kobil Group, has nearly doubled its turnover in six months. The listed group's trading results for the period ending March 31, however, reflect merging of Kenol and Kobil operations from last January.
Group pre-tax profit rose marginally by 6.9 per cent, from Sh610 million to Sh650 million. The results were, to a large extent, determined by three months of political violence during the second quarter of operation, which ground distribution in Kenya and the region.
Post-election violence
"During the period, the company continued to experience challenging business environment especially in the second quarter (January 2008 to March 2008) due to post election violence and disruptions in Kenya, coupled with supply constraints arising mainly from pipeline and storage poor capacity," group managing director, Mr Jacob Segman, said Tuesday. The outcome, which also incorporated figures of the new Ethiopian operations, saw turnover rise 96 per cent from Sh25.1 billion to Sh49 billion. It said net sales over the period had risen by 102 per cent but lamented inability to pass on the cost to consumers.
Shareholders will be paid an interim dividend of Sh1.25 a share, payable on June 17. "This profit level is within a satisfactory achievement. The management is strongly optimistic about the future of the group's profitability," Mr Segman, who is also the company acting chairman said.
| |||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||
|
| |||||||||||||||||||||||||||||
|
| |||||||||||||||||||||||||||||
| Copyright © 2008 The Nation. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections -- or for permission to republish or make other authorized use of this material, click here. | |||||||||||||||||||||||||||||
|
| |||||||||||||||||||||||||||||
| Make allAfrica.com your home page | RSS Feed | |||||||||||||||||||||||||||||
|
| |||||||||||||||||||||||||||||
| Top | Site Guide | Who We Are | Advertising | Search | Subscribe | |||||||||||||||||||||||||||||
|
| |||||||||||||||||||||||||||||
| Questions or Comments? Contact us. Read our Privacy Statement. | |||||||||||||||||||||||||||||
|
| |||||||||||||||||||||||||||||
|
| |||||||||||||||||||||||||||||
