Carbacid Investments Plc Net Profit After Tax increased to KSh 360.7 Million at the end of the six months ended 31st January 2021 compared to KSh 210.4 Million as of 31st January 2021.
Turnover increased by 56% to KSh 701.7 Million in the first six months ended 31st January 2022 compared to KSh 449.7 Million over a similar period in 2021.
Directors of Carbacid Investments attribute this to economic recovery in the region and new markets for liquid carbon dioxide coupled with increased efficiency and delivery.
This has resulted in operating profit increasing by 79% compared to the same period last year to KSh 318.5 Million.
The firm’s pre-tax profit rose to KSh 457.9 Million in H1, 2022 compared to KSh 276.7 Million over a similar period in 2021.
Earnings per Share(EPS) which measures a firm’s profitability improved to KSh 1.42 from KSh 0.83 during the period under consideration.
Carbacid Investments Total Net Assets stood at KSh 3.661 Billion in H1, 2022 compared to KSh 3.654 Million in the first six months of the previous financial year.
The firm said global supply chain issues, the conflict in Europe and inflationary pressures will likely result in continued high cost of fuel and other inputs and these will remain significant challenges during the rest of 2022.
Carbacid Investments Plc is still keen on acquiring the shares of BOC Kenya Plc. However, it said the process has been delayed by objections filed at the Capital Markets Tribunal and in the High Court by two of BOC’s shareholders.
As a result, the offer has been suspended by CMA pending determination by both the Tribunal and the High Court.
ALSO READ: Carbacid Shareholder Baloo Patel Ups stake to 127.2 Million Shares
