Engen profits up

Engen Botswana expects its profit for the first half of the year to increase by up to P192.4 million, an increase of between 100 percent and 110 percent from the same period last year.

The company stated that this is mainly attributable to improved business activity that occurred subsequent to the State of Public Emergency that was in force for the greater part of 2021 and the significant increase in global crude oil prices during the period. As a result, the gross profit has increased between 85 percent and 88 percent from P226.2 million reported in the half year ended 30 June 2021. The financial results are expected by 30 September 2022.