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.

To contact the reporter on this story: Johnstone Ole Turana in Nairobi via Johannesburg at pmrichardson@bloomberg.net.

To contact the editor responsible for this story: Antony Sguazzin in Johannesburg at asguazzin@bloomberg.net.

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.