BOC successfully cut its operating costs to Sh165.7 million ($1.3 million), down from Sh194.2 million ($1.5 million) the previous year.
These strategic cost controls helped the company stay profitable even though revenue fell by 11 percent, from Sh589.9 million ($4.6 million) to Sh523.4 million ($4.1 million). The revenue drop was mainly due to the end of several donor-funded projects that had previously boosted BOC's sales.
To navigate these challenges, BOC adjusted its pricing strategy. As some tenders expired in 2024, the company was able to raise prices, which helped offset the impact of a steep 60 percent hike in electricity tariffs earlier in the year. This strategic move allowed BOC to manage rising energy costs and protect its profit margins.
Positive Outlook for the Rest of 2024Looking forward, BOC expects to continue growing its profits in the second half of the year.
