Kenya Power has recorded Sh2.5 billion in net profit for the half year period to December 31, 2018.
During the trading period, revenue from electricity sales increased by 21.3 per cent from Sh 46.93 billion to Sh56.95 billion.
The revenue growth was as a result of an increase in unit sales where the utility sold 4,106 GWh as at December 31 compared to 3,893 GWh in 2017.
Units purchased increased by nine per cent to 5,324 GWh from 4,882 GWh recorded in the previous similar trading period.
In an effort to enhance power supply, connect more customers, the transmission and distribution cost increased by 37.3 per cent to Sh21.7 billion from Sh15.8 billion recorded during the period ended December 31, 2017.
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Finance costs increased by 23.5 per cent to Sh4.02 billion from Sh3.25 billion incurred in the half-year period to December 31, 2017.
“The Company continues to undertake initiatives to improve power supply, enhance reliability by having a robust distribution network,” Kenya Power’s Ag. Managing Director and CEO Eng. Jared Otieno said.
“The current focus is on customer satisfaction where in line with our corporate strategy, we are transforming customer experience by improving operations at customer touch points, simplifying processes for efficient service delivery and embedding positive organizational culture,” he added.
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