KPC shareholders set for Ksh 5.9B dividend pay as profit tops Ksh 11.6b
Kenya Pipeline Company (KPC) reported a 13% profit increase to Ksh 11.6 billion, driven by improved operational efficiency and revenue performance. The company is now looking to diversify into new sectors like LPG and LNG trading.
Why it matters
The financial performance of KPC is a key indicator of the health of Kenya's energy infrastructure and state-owned enterprise sector.
Kenya Pipeline Company (KPC) has reported a 13% increase in full year profit after tax which has grown to Ksh 11.6 billion compared to Ksh 10.2 billion reported last year.
The firm Nairobi Securities Exchange-listed firm attributes the profit rise to better revenue performance recorded during the period under review.
KPC Plc Acting Managing Director Pius Mwendwa said the firm also realized improved operational efficiency, product availability and stronger cash generation from the firm’s core business leading to higher profitability.
“Despite a difficult operating environment characterised by global petroleum prices and supply volatility due to the Middle East crisis, KPC Plc has managed to grow its top line and bottom line while improving operating cost efficiencies,” Mwendwa said.
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