Kenya Power has recorded $29 million (KShs.2.5 billion) in net profit for the half year period to 31 December 2018.
During the trading period, revenue from electricity sales increased by 21.3 % from KShs.46.93 billion to KShs.56.95 billion.
The revenue growth was as a result of increase in unit sales where the utility sold 4,106 GWh as at 31 December 2018 compared to 3,893 GWh as at 31 December 2017.
Units purchased increased by 9% to 5,324 GWh from 4,882 GWh recorded in the previous similar trading period.
In an effort to enhance power supply, and connect more customers, the transmission and distribution costs increased by 37.3% to KShs.21.7 billion from KShs.15.8 billion recorded during the period ended 31 December 2017. Finance costs increased by 23.5% to KShs.4.02 billion from KShs.3.25 billion incurred in the half year period to 31 December 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 & CEO Eng. Jared Othieno 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.