Bloomberg News

KenolKobil Climbs Most in 8 Months on Profit Forecast

June 14, 2011

(Updates with closing share price in second paragraph.)

June 14 (Bloomberg) -- KenolKobil Ltd., a Kenyan fuel retailer with operations in nine African countries, rallied the most in almost eight months after saying it expects to report first-half net income rose more than 50 percent.

The company’s stock rose 6.2 percent to 10.30 shillings by the 3 p.m. close in the capital, Nairobi, the biggest jump since Oct. 26.

KenolKobil’s profit growth is boosted by geographical expansion and an improved focus on certain business lines, the company said yesterday. The earnings will be released July 26, it added.

--Editors: Ana Monteiro, Linda Shen

To contact the reporter on this story: Eric Ombok in Nairobi at eombok@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net


Video Game Avenger
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus