KENGEN records Ksh.7.5 b pretax profit for half year.

Electricity Generating Company KENGEN has reported nine percent profit before tax posting Ksh.7.52 billion for the half-year period ended December 31, 2021.

This marks an improvement in KenGen’s revenue portfolio when it recorded Ksh.6.87 billion similar period in 2020.

The electricity generator  has attributed the performance to an increase in sales and diverse revenue streams.

The company was buoyed by  business activities in Ethiopia, repair maintenance and higher steam costs following increased dispatch from Olkaria I AU and V geothermal plants.

It also reported an increase in its total assets by 1.4 percent to Ksh.431.5 billion while total liabilities rose by 1.3 percent to Ksh.218.0 billion.

The company reported a high of 1.3 percent in its net revenue translating to Ksh.5.1 billion from Ksh. 5 billion in the previous year.

Total revenues grew by 14 percent from Ksh.21 billion in December 2020 to Ksh.24 billion.

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