TotalEnergies Marketing Kenya PLC has issued a profit warning, revealing that it expects its 2024 full-year profit after tax to fall by over 25 per cent compared to the previous year’s results.

This forecast, disclosed in compliance with Paragraph 14.5.7 of the Thirteenth Schedule to the Capital Markets (Public Offers, Listings and Disclosures) Regulations, 2023, reflects the difficult financial landscape facing the company.

In a statement issued by the board, the decline is attributed to “the high interest rates which resulted in increased finance costs, compounded by a challenging and volatile business environment.”

The board also pointed to recent trends indicating a reduction in interest rates, stating that this development is likely to “ease financial pressure and improve net income.”

Management remains optimistic that measures to manage costs will lead to improved performance in 2025.

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“TotalEnergies Marketing Kenya PLC is confident that the initiatives implemented by Management to manage costs will yield improved performance in 2025,” the board noted.

Despite the challenges, the company reiterated its focus on safety, operational excellence, profitable growth, and maintaining positive cash flow generation.

The statement, signed by Managing Director Thibault Flichy, aimed to assure stakeholders of the company’s commitment to navigating the current economic difficulties while positioning for recovery.

As the financial year draws to a close, shareholders and investors will be closely watching how the firm adapts and rebounds in the year ahead.