(NAIROBI, KENYA) – TotalEnergies Marketing Kenya net profit for the six months to June 2026 grew 21.2%, lifted by higher product sales despite elevated pump prices following disruptions from the Middle East conflict.
The listed oil marketer reported a net profit of KES 1.33 billion (about $10.1 million / £8 million / €9.3 million) in the half year to June compared to KES 1.1 billion (about $8.4 million / £6.6 million / €7.7 million) posted in a similar period in the previous year.
This followed a 19% increase in revenues to KES 84.4 billion (about $643 million / £506 million / €590 million), coming in a period when global fuel prices climbed significantly due to the US-Israel war against Iran, which disrupted key trading channels, including the Strait of Hormuz.
“Despite volatility in the global energy markets, the company delivered a strong performance with profit before tax increasing to KES 2.16 billion (about $16.5 million / £13 million / €15.1 million) from KES 1.41 billion (about $10.7 million / £8.5 million / €9.9 million) in 2025,” the company said in a public notice.
“Gross profit rose to KES 6.14 billion (about $46.8 million / £36.8 million / €42.9 million) from KES 5.32 billion (about $40.5 million / £31.9 million / €37.2 million), supported by higher sales volumes across all business segments,” it added.
Total’s indirect taxes and duties rose by 2.6%, slower than the 19% growth in revenues, signalling lower remittances at a time when the government halved value added tax levied on fuel to 8%.
The oil marketer’s profit before tax grew at a faster pace of 53.2% compared to net earnings, indicating a higher tax charge for the business. Its cost of sales rose by 26.7% to KES 57.7 billion (about $440 million / £346 million / €403 million), capturing the higher fuel sourcing prices.
Data from the Kenya National Bureau of Statistics shows diesel and petroleum use increased by an average of 9% despite pump prices rising past the KES 200 mark. Diesel prices in the first six months of 2026 averaged at KES 192.77 (about $1.47 / £1.16 / €1.35) per litre, up 15.8% from last year’s KES 166.48 (about $1.27 / £1 / €1.16), while that of super petrol was roughly KES 194.87 (about $1.48 / £1.17 / €1.36), up 10.2% from KES 176.76 (about $1.35 / £1.06 / €1.24).
Total’s other income increased to KES 868 million (about $6.6 million / £5.2 million / €6.1 million) compared to KES 753 million (about $5.7 million / £4.5 million / €5.3 million) a year earlier, driven by continued growth in shops, food and services and third party partnerships.
The company also benefited from lower financing costs, which declined 17.1% to KES 550 million (about $4.2 million / £3.3 million / €3.8 million) as a result of lower borrowing rates in tandem with declining interest rates in the market.
Management of the oil marketer did not announce an interim dividend despite the profit growth.