Carbacid half year profit up 71 percent to Ksh.361 million

The profit rise for the manufacturer is premised on greater sales with the firm’s turnover climbing by 56 per cent to Ksh.701.6 million from Ksh.449.7 million.

The company has credited the growth to regional economic recovery alongside the capture of new markets for liquid carbon dioxide.

At the same time, Carbacid’s finance income rose to Ksh.110.5 million from Ksh.97.2 million with the company making further gains from foreign exchange differences and the revaluation of equity investments.

Carbacid’s earnings per share have improved to Ksh.142 from 83 cents after the earnings rise.

The board of the firm has not recommended the payment of an interim dividend for the period but will assess the performance alongside that of the next six months to declare a final dividend.

Carbacid says it is still interested in the takeover of BOC Kenya, an industrial oxygen manufacturer subject to the resolution of objection filed with the Capital Markets Authority (CMA) Tribunal and with the High Court.