Bloomberg News

KenolKobil of Kenya Gains for Fifth Day; Heads for 6-Month High

February 22, 2012

Feb. 22 (Bloomberg) -- KenolKobil Ltd., the Kenyan fuel retailer with operations in nine African countries, gained for a fifth day and headed for its highest close in six months amid speculation the company will report improved earnings.

The stock gained 1.4 percent to 11.2 shillings by 10:27 a.m. in Nairobi, the capital. A close at that level would be the strongest since Aug. 18.

“There is speculation that earnings will grow year-on- year,” Gregory Waweru, a research analyst at Kestrel Capital East Africa Ltd., said in a phone interview today.

The company is scheduled to report annual results on Feb. 29.

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

To contact the editor responsible for this story: Paul Richardson at pmrichardson@bloomberg.net


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