Total Kenya Net Profit Jumps 37% To Ksh 717.9Mn Despite 30% Decline in Sales

Total Kenya has posted a 74% rise in its half year profit before tax to Ksh 1.56 Billion compared to Ksh  891.7 million posted year ago boosted by a decline in cost of sales to Ksh 35.3 Billion against Ksh 52.6 Billion posted in in June 2015.

During the period, the company’s net sales declined by 30% to Ksh 38.98 billion versus Ksh 55.74 billion posted in the same period in 2015. Operating expenses rose by a slight margin to Ksh 2.5 Billion compared to Ksh 2.39 Billion recorded in half year 2015.

Net Profit stood at Ksh 717.9 Million versus Ksh 525.5 Million posted in HY 2015 with Other income increasing by Ksh 131.5 Million as a result of increased activities in non-fuel business channels. Earnings per share (EPS) grew to Ksh 1.14 versus 0.83 reported last year.

The company’s directors did not recommend payment of an interim dividend.