Oct. 30 (Bloomberg) -- Kenya’sprice-weighted All-Share Index advanced 0.16, or 0.3 percent, to 55.21 points at the close of trading in Nairobi, for a fourth day of gains.

The shares of 19 companies gained, 11 declined and 25 were unchanged. The following were among the most active:

Athi River Mining Ltd. (ARML KN), Kenya’s third-largest cement maker, rose 1.6 percent to 98.5 shillings. The company said net income for the nine months through September rose by 32 percent as sales climbed.

Kenya Airways Ltd. (KNAL KN), sub-Saharan Africa’s third- largest airline, was unchanged at 24.25 shillings after it said first half net income jumped 17 percent. The company also announced plans to begin flights to three new destinations and increase the frequency of flights to 14 other cities.

“The profit was up because they gained on fuel derivatives,” said Gregory Waweru, an analyst at Kestrel Capital East Africa Ltd., by phone from Nairobi.

Kenya Power & Lighting Ltd. (KPLL KN), the East African nation’s sole power distributor, rose for a second day after it said yesterday that full-year profit jumped 82 percent and that it is raising its dividend.

“There is a lot of room for this price to adjust upwards after increasing the dividend by 100 percent,” said Aly Khan Satchu, an independent analyst, by phone from Nairobi. “You’ll be hard pressed to find that anywhere in the world.”

Kenya Power gained 2.9 percent to close at 144 shillings.

Safaricom Ltd. (SAFCOM KN), Kenya’s largest company by market value, climbed 1.3 percent to 4 shillings on speculation its first half results may be better than expected, Waweru said. “There is robust demand for the stock and the earnings will set the pace for the share price going forward,” he said.

Safaricom is scheduled to announce its results on Nov. 4.

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

Last Updated: October 30, 2009 09:15 EDT