This archive report was first published on 29 August 2021.
BOC Gases Kenya Limited has reported a significant increase in its Half-Year earnings, more than doubling to KSh 38.8 Million at the end of the first six months of this year, compared to a net profit of KSh 14.6 Million in H1, 2020.
According to its unaudited results for the period ended 30th June 2021, the firm's revenues increased by 57.3% to KSh 696.2 Million in H1, 2021 compared to KSh 442.6 Million over the first six months period of 2020, driven by an increase in COVID-19 medical oxygen volumes and medical gases infrastructure projects.
The firm's pre-tax profit increased to KSh 65.6 Million from KSh 28.2 Million over the period under consideration, with the company's profitability, measured by Earnings per Share (EPS), increasing to KSh 1.96 from KSh 0.75 per share in H1, 2020.
Directors of the listed gas dealer have declared an interim dividend of KSh 1.50 per share, to be paid on October 18th 2021 to shareholders on the register at the close of business on 24th September 2021.
BOC Gases Kenya Limited's balance sheet size increased to KSh 2.2 Billion in H1, 2021 from KSh 1.9 Billion over the first six months of 2020, with the firm generating KSh 98.1 Million in cash from operations, compared to a negative cash position of KSh 82.8 Million over a similar period last year.
BOC closed its last trading day at the Nairobi Securities Exchange (NSE) on Friday, August 27, 2021 at KSh 66.75 per share, with the firm gaining 5.95% on its year-to-date performance, ranking it 27th on the NSE.
