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Total profits up 90%. kk to follow.
ngapat
#1 Posted : Thursday, March 10, 2011 11:45:07 PM
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Joined: 12/11/2006
Posts: 896
Total Kenya announced a 90 per cent jump in net profits helped by higher fuel prices and the acquisition of Chevron Kenya, but warned that price controls could hurt margins this year.

http://www.businessdaily...-/101elt8z/-/index.html

Analysts expect rival firm KenolKobil to deliver double-digit growth in profit buoyed by the higher fuel prices.
“Invest in yourself. Your career is the engine of your wealth.”
youcan'tstopusnow
#2 Posted : Friday, March 11, 2011 12:07:29 AM
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Joined: 3/24/2010
Posts: 6,779
Location: Black Africa
Unlike KK, Total did not have its licence withdrawn for a few weeks. How much did this affect KK? Tutajua
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Aguytrying
#3 Posted : Friday, March 11, 2011 12:20:49 AM
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Joined: 7/11/2010
Posts: 5,040
youcan'tstopusnow wrote:
Unlike KK, Total did not have its licence withdrawn for a few weeks. How much did this affect KK? Tutajua

plus the 4.5bn case. Though not being paid at once.
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Gordon Gekko
#4 Posted : Friday, March 11, 2011 8:44:55 AM
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Joined: 5/27/2008
Posts: 3,760
youcan'tstopusnow wrote:
Unlike KK, Total did not have its licence withdrawn for a few weeks. How much did this affect KK? Tutajua

Was there any dry pump during that period?
mwanahisa
#5 Posted : Friday, March 11, 2011 9:27:26 AM
Rank: Elder


Joined: 6/2/2008
Posts: 1,438
@Ngapat. I have analysed the Total results on the other Total thread. You should note that 255 million of the PBT came from sale of some of the Chevron Assets agreed with the G.o.K. This is a non-recurring item, so if you take it out of the equation, PAT would have gone up by about 55% and EPS would have been 2.51.

You will note that Kenol had also made some gains in 2009 from the sale of assets. I am uncertain whether they have continued with these sales in 2010. If not, obviously this will have a dampening effect on the comparative results in 2010. Nonetheless the 1st Half results for Kenol were indeed excellent! I am therefore reasonably optimistic on the 2010 results notwithstanding the shenanigans KK had with what some here call "the axis of evil".
VituVingiSana
#6 Posted : Friday, March 11, 2011 1:40:38 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,217
Location: Nairobi
KK was not dry even under pressure from KPC & KPRL...
Nevertheless, there must have been higher costs...

Well, thanks to the Kenya's Fuel Axis of Evil... we will end up paying much more for diesel!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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