Increased sales push Kenya Power's net earnings to Sh4.2 billion

Kenya Power recorded an 11.6 per cent net profit growth to Sh4.2 billion in the half year ended December, helped by higher electricity sales.

The company sold electricity worth Sh45.7 billion in the review period, up 9.9 per cent from Sh41.6 billion a year earlier.

Kenya Power did not declare an interim dividend for the period, breaking years of regular payments of half-year dividends of Sh0.2 per share.

The dividend suspension came after the company’s cash position fell 93.1 per cent to Sh925 million from Sh13.5 billion.

The company invested heavily in its distribution and transmission infrastructure which gobbled up Sh16.1 billion in the half year, a 23.6 per cent increase from Sh13 billion the year before.