Rising crude oil prices push Kenol back to profitability

Kenol/Kobil’s net sales for the period jumped 40 per cent to reach Sh60 billion, the company said, citing a higher demand for energy across the seven countries that the company has operations in.

“Increased group focus on high margin business margin business lines has positively impacted the bottom line, ” said Mr Segman. Despite the emerging challenges, Kenol/ Kobil foresees better performance in the second half of the year.

“The management is projects strong end year results, expected to come mainly from operations outside Kenya,” Mr Segman said.