Kenol Kobil in massive Sh8.96 billion 2012 loss

KENOL Kobil has posted a Sh8.96 profit before tax for 2012 from a SH4.9 billion profit recorded during the previous year driven by higher forex exchange costs among other factors. Net sales dropped from Sh 222.4 billion in 2011 to Sh192.5 billion last year. While issuing teh staments yesterday the company did not give a reason for the drop in perfomance. Net foreign exchange losses increased to Sh4.6 billion from the Sh1.1 billion in 2011...