Kenya Power woes deepen as full year pretax profit dives 60pc

Kenya Power has revealed that its full-year pretax profit plunged to Ksh.3billion.

This is a 60percent drop from Ksh.7.66billion the previous year.

The management attributed this to lean electricity sales as well as increased transmission and distribution costs.

Kenya’s sole power distributor however said total revenue rose to Ksh.125.85billion.

This is up from Ksh.120.74billion in the year ended June.

According to Kenya Power, this was due to a 2 percent growth in electricity sales of Ksh.95.46billion.

Transmission and distribution costs rose 14 percent to Ksh.39.63billion, the power company said.