KenolKobil net profit up to Sh918m on cost-cutting

Oil marketer KenolKobil reported a 73 per cent jump in net profit for the half-year ended June, helped by cost-cutting measures that compensated for lower sales.

The firm made a net profit of Sh918.4 million in the period compared to Sh531.1 million a year earlier, a performance that saw the company declare an interim dividend of Sh0.1 (10 cents) per share.