THE STANDARD
BUSINESS
BOC Managing Director Marion Mwangi. The firm’s turnover rose to Sh1.1 billion. [Wilberforce Okwiri, Standard]
The increased demand for medical oxygen saw BOC Kenya post 82 per cent rise in net profit for the financial year ended December 2020.
The full year net profit stood at Sh101.6 million - nearly doubling from Sh55.9 million posted the previous year. Turnover rose 12.7 per cent to Sh1.1 billion up from Sh975 million in 2019, its recent financials showed.
“The upside in the results for the full year was primarily from medical gases, a revenue stream that has shown consistent growth over many years due to increased investments in both public and private sector healthcare facilities,” the company said.
Toxic regulation harming Covid battle
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CMA hearing of Carbacid’s BOC buyout yet to kick off
Friday April 09 2021
BOC, which has operated in Kenya since 1940, produces and supplies industrial, medical and special gases. FILE PHOTO | NMG
By VICTOR JUMA
Summary
The Capital Markets Tribunal is yet to start hearings of a case in which Carbacid Investments’ proposal to acquire BOC Kenya for Sh63.5 per share has been opposed by a minority shareholder.
Former BOC chairman Ngugi Kiuna filed an application at the tribunal on March 2, objecting to the deal which he says undervalues the company in which he holds a 7.6 per cent stake.
The Capital Markets Tribunal is yet to start hearings of a case in which Carbacid Investments’ proposal to acquire BOC Kenya for Sh63.5 per share has been opposed by a minority shareholder.