Browsing: profit

The cost of sales reached 683.2 million Kenyan Shillings, which is an increase from 520.5 million Kenyan Shillings during the same period in the previous fiscal year.

Because of an increase in the cost of sales caused by a global rise in newsprint prices and a depreciation of the Shilling in comparison to the dollar, the gross profit margin decreased by 4.5 percentage points, falling from 86.0 per cent in the previous year to 81.5 per cent in the current year.

In spite of the difficulties encountered, the group maintained their confidence that they would make progress in the second half of the year.…

However, cumulative taxes increased by 2% to a total of sh9.4 billion, which reflects higher exercise duty charges and increased profitability.

The increased tax liability that BAT faces is a result of recent hikes in exercise duty rates, one of which will be a five per cent rise in November 2021.

After a 10% increase in the rate of excise duty took effect in July of 2022, it is anticipated that the impact of the higher duty will continue to have a significant influence on the second half of the year.
The Board of Directors of BAT has approved a proposal to pay an interim dividend of Ksh.5 per share, which would amount to a total pay-out of Ksh.500 million and would be distributed on or around 16 September.

According to a statement released by the BAT Kenya Company Secretary, Kathryne Maundu, “the interim dividend, which will be paid on …

• KenGen has reported a 7% rise in its full-year Profit Before Tax to Ksh14.76 billion
• The firm recommended a dividend pay-out of Ksh 0.30 per share, amounting to Ksh.1.98 billion 
• The profit growth was achieved on the back of continued revenue growth underpinned by the company’s diversification strategy

Kenya Electricity Generating Company PLC (KenGen) has released its full-year Financial Results for the financial year ended 30^th June 2021 reporting a 7% Profit Before Tax increase from Ksh13.79 billion to Ksh14.76 billion.

The NSE-listed firm has also recommended a dividend pay-out of Ksh 0.30 per share which amounts to Ksh.1.98 billion to be paid to all its shareholders.

Announcing the results, KenGen Managing Director and CEO, Rebecca Miano said the profit growth was achieved on the back of continued revenue growth underpinned by the company’s diversification strategy.

“In spite of the challenging times, KenGen remained strong recording a steady performance …

According to the brewer, profit after tax for the period declined 1 per cent to Sh7 billion mainly impacted by cost inflation, tax and foreign exchange impact.

Further, the COVID-19 related tax reliefs in Kenya on corporation tax and VAT ended in December 2020, resulting in higher tax charges for the year as the rates reverted back to pre-COVID levels.

The company said the slower profit growth rate was driven by the impact of cost inflation, adverse foreign exchange and tax charges.…