KPC full year profit up 32pc to Ksh 10B

Kenya Pipeline Company (KPC) says it’s full year gross profit to June last year has grown from Ksh 7.6 billion to Ksh 10 billion.

The 32pc increase in profit before tax was driven by higher earnings from sales as well as a favourable forex rates. Very

“We will continue to invest in our people, infrastructure, and technology to ensure that we not only meet but exceed the expectations of our customers and stakeholders,” said Joe Sang, KPC Managing Director.

During the 2023/24 financial year, revenue grew by 15pc to reach Ksh 35.4 billion from Ksh 30.9 billion reported in the previous year.

Total throughput volumes grew by 6pc to 9.1 million cubic meters (M3), from 8.6 million M3 in 2023.

Domestic throughput volumes increased marginally to 4.5 million M3, while export volumes surged by 12pc to 4.7 million M3, reflecting KPC’s enhanced operational capacity and commitment to customer demand.O

“Our recent acquisition of ISO Integrated Management System (IMS) underscores our commitment to maintain the highest standards of operational excellence and compliance with international benchmarks” added Faith Bett–Boinett, KPC Board Chairman.

This comes as KPC completes acquisition of the Kenya Petroleum Refineries Limited (KPRL) which it has been operating under a lease agreement since 2017.

Sang said the acquisition is strategic as KPC  leverages KPRL’s fuel storage assets to drive Kenya’s position as a regional oil and gas hub.

KPC is also exploring alternative revenue streams such as Fiber Optic Cable (FOC), Morendat Institute of Oil and Gas (MIOG), and investments in Liquefied Petroleum Products (LPG).