TotalEnergies Marketing Kenya Plc, a multinational oil and gas company, says its profit for the first half of the year surged 17 per cent to KSh1.7 billion from KSh1.1 billion at the end of the first half of 2020.
The company attributed the growth to its diversified revenue segments and prudent management of fixed costs.
Net sales jumped by 10 per cent to KSh34.5 billion at the end of June 2021, from KSh31.5 billion in June 2020.
Its operating expenses remained the same at KSh3.13 billion compared to KSh3.14 billion reported in the same period last fiscal year.
In the review period, its total’s assets increased to KSh43.4 billion as of 30th June 2021 from KSh43.0 billion as of 31st December 2020.
Its total liabilities remained unchanged at KSh15.8 billion.
The Board did not recommend payment of interim dividend but remains “confident of positive results in the remaining part of the year.”