BOC Gases Kenya Limited Net Earnings Up 165.8% to KSh 38.3 Million in H1, 2021

BOC Gases Kenya Limited more than doubled its Half-Year earnings to KSh 38.8 Million at the end of the first six months of this year, compared to a net profit of KSh 14.6 Million in H1, 2020.

According to its unaudited results for the period ended 30th June 2021, the firm’s revenues increased by 57.3% to KSh 696.2 Million in H1, 2021 compared to KSh 442.6 Million over the first six months period of 2020. This was due to an increase in COVID-19 medical oxygen volumes and medical gases infrastructure projects.

The firm’s pre-tax profit increased to KSh 65.6 Million from KSh 28.2 Million over the period under consideration.
A dealer engaged in the manufacture and sale of industrial and medical gases, as well as the sale of welding products profitability, measured by Earnings per Share(EPS), increased to KSh 1.96 from KSh 0.75 per share in H1, 2020.

BOC Kenya Directors have declared an interim dividend of KSh 1.50 per share

Directors of the listed gas dealer, which has operations in Kenya, Uganda and Tanzania with subsidiaries including East African Oxygen Limited, BOC Tanzania Limited and BOC Uganda Limited, has declared an interim dividend of KSh 1.50 per share from nil in H1 2020.

This dividend is to be paid on October 18th 2021 to shareholders on the register at the close of business on 24th September 2021.

A subsidiary of the Linde Group, BOC Gases Kenya Limited balance sheet size increased to KSh 2.2 Billion in H1, 2021 from KSh 1.9 Billion over the first six months of 2020 with the firm getting from negative cash generated from operations to KSh 98.1 Million.

Cash used in investing activities increased significantly to KSh 208.6 Million in H1, 2021 from a negative cash position of KSh 82.8 Million over a similar period last year.

BOC closed its last trading day at the Nairobi Securities Exchange(NSE) on Friday, August 27, 2021 at KSh 66.75 per share. The firm began 2021 with a share price of KSh63.00 and has since gained 5.95% on that price valuation, ranking it 27th on the NSE in terms of year-to-date performance.