BOC Kenya Limited has announced a 57.2% rise in half year pre-tax profits to KES 18.4 million for the six months ended June 2012 from KES 75.30 million the same period last year .
The industrial and medical gases, welding equipment and consumables, and medical equipment supplier’s revenue during the period under review was up 17.3% at KES 647.30 million up from KES 551.8 million in 2011.
BOC Kenya Managing Director, Maria Msiska, who announced the company’s half year performance in Nairobi disclosed that earnings before interest and taxes increased to KES 101 million from KES 60.3 million in the same period. Msiska attributed the increase in turnover to strong sales during the first half of the financial year.
“An improved economic climate, input cost stability together with the restructuring actions implemented in 2010 and 2011, resulted in the improved profitability,” she said.
Dividend per share
The board of directors have declared an interim dividend of Kshs 2.00 per share for the six-months ended 30 June 2012 to be paid on or around 5 October 2012 to shareholders on the register at close of business on 6 September 2012.
“In view of the ambitious capital projects that the company is considering, the dividend policy will be reviewed in the second half of the year.” Msiska said.
The Nairobi Securities Exchange listed company realized an 87.4% rise in net profits posting KES 214.9 million for the year ended December last year while Earnings per share rose to KES 7.71 from KES 4.06 in 2010.