In its Full Year 2015 Results, Kenol Kobil posted 68.6% increase in Profit before tax to Ksh 3.4 Billion
Key Highlights
- Total Revenue fell by 4% to 86.7 Billion
- Sales volumes grew a commendable 13%
- Gross profit also fell by 1.9% as other income increased by 66.3% attributed to the sale of the Tanzania subsidiary to Ksh 1.4 Billion.
- EBITDA grew by 22.6% as EBITDA margin was up from 4.3% to 5.5%.
- Finance costs fell by 50.4% to Ksh 567 Million, driven by accelerated debt pay down and lower interest cost, and finance income.
- EPS up 84.6% to Ksh 1.37, Divinded Per Share up 75% to KES 0.35
Dividend & Prospects
The board declared a final dividend of Ksh 0.25 per share which will be payable on 13 June 2016, for investors in the register as at 16 May 2016.
The management is optimistic of strong results on the back of relatively low prices of fuel (despite some volatility).
The company plans to enhance sales volume, and revenue from non-fuel income – especially with completion of rebuilding of two major service stations in Nairobi. KenolKobil expects to be debt free in 2016 (FY15 end year borrowings (all short term) at KES 4.7 Billion).
Source; NSE, SIB,Kenyan Wallstreet
