BOC Kenya reports first-half revenue decline: what it means for BOC Kenya stock

Published on 10/14/2026 at 01:38 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Net profit fell 39.80 percent to KSh 100.4 million in the first half of 2026. BOC Kenya stock saw cash flow rise 40.30 percent.

Results and shareholder returns

BOC Kenya reported first-half revenue of KSh 600 million on September 30, 2026.
Net profit fell 39.80 percent to KSh 100.4 million in the first half of 2026.
BOC Kenya stock last closed at KES 190.25 on the NSE on October 12, 2026.
The 2025 dividend reached KSh 12.85 per share.

BOC, KE0000000042, Illustration mit AI erstellt.

BOC Kenya reported a 17.20 percent revenue decline to KSh 600 million in the first half of 2026, a result that makes the company's shift away from one-off engineering projects central to its investment case. Africa Digest News published the figures on September 30, 2026.

Revenue resets after project work

Africa Digest News reported that net profit fell 39.80 percent to KSh 100.4 million in the first half of 2026. The decline followed the absence of customer engineering projects that had lifted the comparable period, while distribution, selling and administrative expenses rose 17.00 percent.

The comparison is important because the weaker income statement did not translate into weaker operating cash generation. Operating cash flow rose 40.30 percent in the first half of 2026, according to Africa Digest News.

Core gas business carries the answer

For BOC Kenya stock, the key question is whether recurring industrial, medical and specialty gas demand can replace the volatility of large engineering contracts. The company says it supplies industrial, medical and special gases in East Africa and has operated in Kenya since 1940, according to BOC Kenya.

The cash-flow result provides a useful counterweight to the 39.80 percent profit decline, but it does not erase the 17.20 percent revenue contraction. Investors therefore have two separate signals: earnings quality weakened in the first half, while cash conversion improved.

Dividend history remains material

BOC Kenya's shareholder return record adds another measurable factor. Full-year 2025 revenue rose 19.00 percent to KSh 1.43 billion, profit after tax increased 48.00 percent, and the total dividend reached KSh 12.85 per share, according to Africa Digest News. The contrast with the first-half 2026 result shows why recurring gas sales matter more than a single strong project cycle.

Last NSE close dated October 12

The last reported NSE close was KES 190.25 on October 12, 2026. KenyaStocks lists BOC Kenya under ticker BOC with 19.53 million shares in issue and a 52-week range of KES 120.00 to KES 200.00.

BOC Kenya is listed on the Nairobi Securities Exchange and supplies industrial, medical and special gases across East Africa. The company was established in Mombasa in 1940 and listed on the exchange in 1969, according to BOC Kenya.