Today's Headlines
- Lessons and Implications of the Confirmation of Charges Against Kenya's 'Ocampo Four'
- Finance Minister Quits Over ICC Charges
- Shortage of HIV Test Kits Raises Concerns
- Living On the Edge in Turkana Region
- Ali Breaks Silence, Describes Delight At Acquittal
- Uhuru, Ruto Eligible for Presidency - CIC
- Tea Sector Posts Record Earnings in 2011
- Resettle IDPs, Urges Annan
- Uhuru, Muthaura Have Done the Right Thing
- All Displaced People Should Return Home
- Concern Raised As Parents Shun Schools in Poll Violence Hotspots
- Ruling On IEBC Hiring in February
- Country Working Towards Conditions Needed for Direct Flights to U.S.
- How ICC Claimed Kibaki's Lieutenants
- Geothermal Project to Receive Sh10 Billion Funding Boost
- Five Million to Get IDs Before Elections
- Speed Up Building Port
- Uhuru and Muthaura Did Well to Quit Posts
- A Full Plate Awaits Githae
- Clashes Continue in Moyale
- Baraza Case to Be Heard Monday
- Two Firms in Joint Venture to Drill for Oil Near Lodwar
- Exit Uhuru, Muthaura
- ICC Charges Hound Uhuru Out of Treasury
- Consumers Grow Despite Inflation
- Poor Relations Between Banks Blamed for Cash Shortages
- Fish Prices Up As Vegetable Supply Dwindles
- Consumers to Pay More for Milk and Bread As Prices Rise
- Kibaki Tasks Ex-Dar CJ to Lead Probe in Kenya
- Mombasa Port Cargo Congestion Forces Three-Month Fees Waiver
3 September 2010
Nairobi — Gas maker, BOC Kenya, has reported a 32 per cent dip in profit after tax for the first half of 2010, amid sluggish sales and high cost of production.
In the six months ending June 30, the firms profit after tax declined from Sh102.9 million recorded over the same period last year to Sh70.1 million.
In the period under review, turnover declined by 9 per cent in what the firm attributes to a challenging business environment, from Sh641 million posted during the first six months of last year to Sh584.8 million.
Profit before tax was also down by 32 per cent from Sh146.9 million in 2009 to Sh100.5 million for the first half of 2010.
The firm's acting MD, Mr Kennedy Jaccojwang, attributes the decline to increased cost of operation, one-off separation costs and reduced income from investments.
Analysts say BOC's performance is an indication that its core business of selling medical and industrial gases other than carbon dioxide is approaching maturity.
In March this year, the firm's managing director, John Kariuki, resigned amid sluggish performance and difficulty in entering new markets.
BOC has been eyeing the carbon dioxide market through the purchase of Carbacid Investment, but the deal engineered in 2005 failed to off after the capital markets regulator refused to grant approval.
