KenolKobil Advances on Expected ‘Bullish’ Earnings Performance
KenolKobil Ltd., a Kenyan fuel retailer, advanced in Nairobi trading after the company said it expected a “strong performance” in the years ahead and is “bullish” about results for the year through December.
The stock rose 10 cents, or 1 percent, to 9.9 shillings, the first gain in seven trading days, after earlier climbing as much as 1.5 percent.
Earnings will be boosted by KenolKobil’s “forward-looking strategy,” including investing in markets outside Kenya, Chairman Jacob Segman said in an e-mailed statement earlier today. The company has operations in seven African countries, including Kenya, Uganda, Tanzania, Zambia, Rwanda, Ethiopia and Burundi.
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