Kenya Power profit up by 1.7%, cites ease of busi­ness

The Star (Kenya) - - News Business -

Kenya Power’s full-year net profit rose by 1.7 per cent boosted by growth in elec­tric­ity sales, the firm has an­nounced. The com­pany yes­ter­day said profit af­ter tax for the pe­riod ended June 30, 2016, grew to Sh7.6 bil­lion from Sh7.4 bil­lion, de­spite an in­crease in power pur­chase cost. Elec­tric­ity sales grew by 3.6 per cent from 7.13 mil­lion units the pre­vi­ous year to 7.38 mil­lion units in the pe­riod un­der re­view. “This, com­bined with an im­proved av­er­age yield led to 11.9 per cent in­crease in sales rev­enue, from Sh77.8 mil­lion the pre­vi­ous year to Sh87 mil­lion,” the firm said in its fi­nan­cial state­ment signed by man­ag­ing di­rec­tor Ben Chumo. Trans­mis­sion and dis­tri­bu­tion ex­pen­di­ture rose by 18.3 per cent to Sh28.651 bil­lion. KPLC said its big­ger net­work in­creased op­er­a­tional ex­penses. The firm at­trib­uted the rise to growth of its elec­tric­ity net­work.

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