Vivo Energy Kenya's revenue dropped 5% to Sh127 billion in 2018, compared to Sh134 billion in 2017, according to London Stock Exchange filings. Despite this decline, the company's pan-African operations generated Sh14.6 billion in profit during the same period.
The energy firm reported a 13% year-over-year revenue increase to Sh755 billion in 2018, up from Sh669 billion in 2017. It maintains a 19.5% market share in Kenya's fuel retail sector, leading ahead of Total (16.3%) and KenolKobil (13.8%).
Vivo Energy finalized a Sh20 billion agreement in 2018 to acquire Engen's operations across eight African countries, including Kenya. The transaction, pending regulatory approval, would grant Engen's stakeholders a 5% equity stake in the combined entity.
Related: Vivo Energy & Engen Restructure Acquisition Transaction of 10 Engen Operations in Africa
