Kenya Pipeline Company (KPC) reported a 13% rise in net profit to KSh 11.58 billion for the year ended June 30, 2026, as higher petroleum volumes pushed annual revenue up 9%, its audited results showed.

Revenue increased to KSh 42.98 billion from KSh 39.50 billion a year earlier, while profit after tax rose from KSh 10.24 billion.

Transport revenue, which accounts for most of the company’s income, climbed to KSh 41.82 billion from KSh 38.59 billion. KPC said local and transit petroleum volumes grew by 7% during the year.

The company’s board recommended a final dividend of KSh 0.32 per share, amounting to about KSh 5.9 billion, subject to shareholder approval.

Higher revenue lifts earnings

Profit before tax increased by 8% to KSh 17.54 billion from KSh 16.17 billion in the previous financial year.

Earnings before interest, tax, depreciation and amortisation (EBITDA) rose to KSh 24.95 billion from KSh 22.55 billion, while operating profit increased to KSh 17.21 billion from KSh 16.11 billion.

The improvement came despite higher operating costs. Direct costs rose 8% to KSh 9.16 billion, which the company attributed to increased maintenance and electricity expenses. Operating expenses also increased, reaching KSh 8.86 billion from KSh 8.51 billion.

Earnings per share rose to KSh 0.64 from KSh 0.58.

Cash balance more than doubles

KPC ended the financial year with cash and cash equivalents of KSh 20.54 billion, up from KSh 11.14 billion a year earlier.

Cash generated from operating activities increased to KSh 17.39 billion from KSh 12.94 billion. Net cash used in investing activities stood at KSh 4.48 billion, compared with KSh 2.52 billion in the previous year.

Net cash used in financing activities fell to KSh 3.50 billion from KSh 5.16 billion.

Total assets grew by 6% to KSh 149.27 billion as of June 30, while shareholders’ equity rose by about 11% to KSh 119.33 billion.

The results also showed a sharp decline in total comprehensive income, which fell to KSh 7.59 billion from KSh 28.42 billion a year earlier.

That figure includes items recorded outside net profit. KPC reported other comprehensive losses of KSh 3.99 billion for 2025/26, compared with other comprehensive income of KSh 18.18 billion in the previous year.

Board recommends KSh 5.9 billion dividend

The proposed dividend is KSh 0.32 per share for the financial year. According to the results statement, shareholders on the company’s register at the close of business on November 30, 2026, would be eligible for the distribution, subject to approval.

The recommendation follows the company’s transition to listed-company status. The final payment will depend on the required approval and the company’s dividend arrangements.

Company outlines investment priorities

KPC said it would focus on maintaining the safety, capacity and reliability of its pipeline network while pursuing growth opportunities.

The company also highlighted governance, strategic partnerships and investment in storage infrastructure as priorities for its next phase of operations.

Its financial performance will depend in part on petroleum volumes moving through the network, the cost of maintaining infrastructure and the investment needed to support future demand.

The 2025/26 results show higher revenue, profit and operating cash generation. The proposed dividend will now depend on shareholder approval, while the company’s planned investments will shape its spending and operating priorities in the coming financial year.