Kenya's KenolKobil H1 pretax profit jumps 299 pct on cost cuts

NAIROBI Wed Aug 20, 2014 10:32am EDT

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NAIROBI Aug 20 (Reuters) - Kenyan oil marketer KenolKobil reported a 299 percent jump in first half pretax profit to 795 million shillings ($9.01 million), largely due to cost savings.

KenolKobil, which operates in several regional countries including Ethiopia, said in a statement the profits to the end of June had risen as a result of cutting its financing, operating and staff costs, an exercise it started in 2013.

(1 US dollar = 88.2000 Kenyan shilling) (Reporting by James Macharia; Editing by Duncan Miriri)

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