Engen�s profits grow despite low oil prices

Friday, September 11, 2015

Fuel company, Engen Botswana saw its net profits in the first half of the year grow significantly amid a gloomy economy and dwindling oil prices.

During the half-year period ended June 30, 2015, the Botswana Stock Exchange (BSE) listed petroleum firm recorded a 25 percent increase in gross profit to P148 million from P118 million in the same period last year.

Engen Botswana’s managing director, Chimweta Monga stated that the growth was mainly due to the increase in government-controlled industry margins in December 2014 and increased sales volumes.

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