Total Kenya 2014 pre-tax profit rises 9.2 percent

Fuel marketer Total Kenya said on Wednesday its pre-tax profit rose 9.2 percent in 2014, helped by stronger sales and a stable macroeconomic environment in Kenya.

The group made a full-year pre-tax profit of 2.28 billion shillings ($24.8 million), up from 2.08 billion a year earlier.

The group, a unit of French oil major Total, said it expects Kenya's macroeconomic conditions to remain stable and "has guarded confidence that the company will continue to perform well in line with the growth strategy put in place."

Total Kenya said finance cost dropped to 272 million shillings in 2014 from 278 million.

The company said it had won several contracts to supply the industry with refined products, helping to increase gross sales to 171 billion shilling from 155 billion a year earlier.

Earnings per share rose to 2.26 shillings in 2014 from 2.08 shillings a year earlier.

The company proposed an increased dividend of 0.70 shillings per share, against 0.60 shillings for 2013.