(Last Updated On: October 13, 2015)
Kenya’s biggest electricity generating company Kengen has reported a 307.5% rise in net profit standing at Ksh11.5 billion. This is up from just Ksh2.8 billion last year.
Revenue from electricity went up by 46.9% to Ksh25.6 billion and the company also received a huge tax credit of Ksh2.8 billion following commissioning of 280MW geothermal plants, Wellheads in Olkaria and Ngong Wind. Kengen increased its dividend from Ksh0.40 to Ksh0.65 per share.
Kengen sold 7,020Gwh to Kenya Power which is a 15.4% rise. Installed capacity rose by 20.5% to 1,611MW. Operating expenses stood at Ksh8.4bn which is a 19.8% rise while finance costs rose by 16.3% to Ksh3bn.