Browsing: profit

• KenGen has reported a 7% rise in its full-year Profit Before Tax to Ksh14.76 billion
• The firm recommended a dividend pay-out of Ksh 0.30 per share, amounting to Ksh.1.98 billion 
• The profit growth was achieved on the back of continued revenue growth underpinned by the company’s diversification strategy

Kenya Electricity Generating Company PLC (KenGen) has released its full-year Financial Results for the financial year ended 30^th June 2021 reporting a 7% Profit Before Tax increase from Ksh13.79 billion to Ksh14.76 billion.

The NSE-listed firm has also recommended a dividend pay-out of Ksh 0.30 per share which amounts to Ksh.1.98 billion to be paid to all its shareholders.

Announcing the results, KenGen Managing Director and CEO, Rebecca Miano said the profit growth was achieved on the back of continued revenue growth underpinned by the company’s diversification strategy.

“In spite of the challenging times, KenGen remained strong recording a steady performance …

According to the brewer, profit after tax for the period declined 1 per cent to Sh7 billion mainly impacted by cost inflation, tax and foreign exchange impact.

Further, the COVID-19 related tax reliefs in Kenya on corporation tax and VAT ended in December 2020, resulting in higher tax charges for the year as the rates reverted back to pre-COVID levels.

The company said the slower profit growth rate was driven by the impact of cost inflation, adverse foreign exchange and tax charges.…