Kenya Power reports Sh2.28b after-tax profit

Kenya Power and Lighting Company net profit rose marginally to Sh2.28 billion in 2011 in a year that saw a prolonged dry spell that raised the price of power.

Total income was up by 52 per cent Sh47 billion compared with the previous year driven mainly by fuel cost and foreign exchange recoveries that more than doubled during the year.

The company said its board of directors had proposed to offer a dividend of 20 cents per share, down from 35 cents given in 2010. However, the lower dividend was also a result of a higher number of shares that resulted from a bonus share issue given in the course of last year.

Shareholders got one new share for every eight shares held as at June 2011. This resulted in the creation of about 217 million shares bonus shares.

Due to the flat increase in the after-tax return but more revenue, the net profit margin however fell to 4.8 per cent compared to 7.1 per cent in the previous year.

Download Kenya Power financial results for period ended December 2011