The Kenya Pipeline Company (KPC) has recorded a pre-tax profit of Sh10 billion for the 2023/2024 financial year, reflecting a 32 per cent jump from the Sh7.6 billion reported the previous year.

The profit growth KPC says comes on the back of increased revenue, which rose 15 per cent to Sh35.4 billion from Sh30.9 billion, driven by higher sales volumes and favourable exchange rates.

According to its statement, the company's total throughput volumes expanded by 6 per cent to 9.1 million cubic metres (M3), up from 8.6 million M3 in the previous financial year.

The company also said it registered a marginal 0.1 per cent increase in domestic throughput to 4.5 million M3, while export volumes rose significantly by 12 per cent to 4.7 million M3.

Board Chair Faith Boinett attributed the company’s strong financial performance to improved operational efficiency.

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“Our strategic outlook has evolved with the revision of our Corporate Strategic Plan to Vision 2025. This forward-thinking approach ensures that KPC remains aligned with the dynamic market environment and continues to fulfill its strategic imperatives," she stated.

Managing Director Joe Sang reaffirmed KPC’s focus on sustainable growth and innovation.

‘‘Looking into the future, KPC remains dedicated to driving sustainable growth and innovation. We will continue to invest in our people, infrastructure, and technology to ensure that we not only meet but exceed the expectations of our customers and stakeholders," Sang said.

With a solid financial footing, KPC said it was looking to sustain its growth by enhancing efficiency and expanding revenue streams.