Kenya Power has posted a Sh30 billion net profit in the year ended June 30, 20224 from a Sh3.19 billion loss the previous year.
The listed power distributor has attributed the much improved results on a 21 per cent increase in sales from commercial and industrial customers and the strengthening of the shilling against the US dollar during the period under review.
The firm’s sales rose to Sh231 billion from Sh191 billion while finance costs dropped by a massive Sh25 billion due to unrealised foreign exchange gain of Sh7.9 billion compared to a loss of Sh16.9 billion in the previous financial year.
The board of the electricity firm has recommended a dividend payout of Sh0.70 per ordinary share, breaking a long standing dividend dry spell.
