BOC Kenya shares fell 18% last month

BOC Kenya PLC (BOC) shares fell 18% in May to close the month at Ksh58.25, marking a sharp reversal of fortunes for investors in the stock. BOC Kenya shares rose nearly 15% in April, making it one of the top picks in the month.

The company is engaged in manufacturing and sale of industrial and medical gases. Its gas products include oxygen used in hospitals.

People with Covid-19 may experience breathing difficulty. Consequently, the disease outbreak has boosted demanded for hospital oxygen used to aid breathing in patients.

BOC Kenya made a profit of Ksh55.9 million on revenue of Ksh976 million in 2019. While revenue was nearly flat from the previous year, profit slipped about 15%. The company paid out dividend of Ksh2.35 per share out of the profit it made in 2019.