Published 28th April, 2010
Kenya's Kenkolkobil announced a 47% rise in post-tax profits to the end of 2009.
Boosted by strong performances from subsidiaries outside its native country, KenkolKobil saw profits surge to KSH1.29bn ($16.6m) for the 12 months to December 2009, although this was 17% lower than the previous year mainly due to a sharp fall in oil prices.
Ethiopia, Rwanda, Zambia and Uganda all performed well, with Tanzania also playing an important role in distribution of KenkolKobil products to its other African subsidiaries. The company is hoping to overturn the Zimbabwean government's decision to block Kenkol's bid to buy Shell and BP's operations in the country.