Aug 4, 2017
Oil marketer to write off Sh1.8bn KPRL debt by the end of the year
Oil marketer to write off Sh1.8bn KPRL debt by the end of the year
After two and a half years of sustained impairments, KenolKobil will complete writing off a Sh1.8 billion debt owed by the defunct Kenya Petroleum Refineries Ltd (KPRL) in December. The company recorded the latest impairment of Sh300 million in the half year ended June when its net profit rose by a fifth to Sh1.4 billion. This raises the cumulative write-offs to Sh1.5 billion, leaving a balance…
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