Bloomberg News

KenolKobil of Kenya Rises as CEO Forecasts Increase in Sales

October 04, 2011

Oct. 4 (Bloomberg) -- KenolKobil Ltd., a fuel retailer with operations in nine African countries, rose after it forecast sales and profit would rise this year.

The stock climbed 5 cents, or 0.5 percent, to 9.50 shillings by the 3 p.m. close in Nairobi, the strongest level since Sept. 30.

The company expects to report so-called net sales of $1.8 billion this year and non-fuel profit of $2.27 million, Chairman Jacob Segman said at a conference in Johannesburg today.

In the year through December, sales rose 5.3 percent to 101.8 billion shillings ($996 million), the company said on March 24.

--Editors: Ana Monteiro, Stephen Kirkland

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


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