Kenya Power and Lighting Company (KPLC) has released the unaudited financial results for the half year ended 31 st December 2021 outlining its transformation journey as it marks 100 years of powering the economy and strengthening services to the customers.
Speaking in Nairobi, the KPLC acting Managing Director (MD) and Chief Executive Officer (CEO), Eng. Rosemary Oduor, said that at the beginning of 2022, KPLC’s efforts were fully geared towards sustaining the momentum they started building in the previous financial year.
Oduor stated that the company has intensified its focus on the five core strategic areas which included growing sales, stepping up of revenue collection, enhancing system efficiency, managing cost, and improving customer experience to boost profitability which it achieved in the last financial year.
She added that the released unaudited profit before tax of Sh5.6 billion for the half year trading period ended December 31, 2021 is attributed to increased sales, enhanced system efficiency, and decreased operating cost.
On the business performance highlights specifically the electricity sales, the CEO said that the company’s sales recorded an 8.7 percent growth from 4,196 gigawatts hours to 4,562 gigawatt hours compared to a similar period last year due to an increase in customer connectivity, improved quality, and reliability of KPLC’s supply.
“This growth is due to enhanced preventive maintenance work, network refurbishment, and the accelerated replacement of all faulty equipment,” she explained.
The CEO stated that the enhancements combined with a 2.3.3 equipment in system efficiency which stood at 77.13 percent as at December 31, 2021 led to a 12.9 percent increase in electricity revenue which grew to Sh69.447 million.
“These developments resulted from enhanced field operations, installation inspections, removal of illegal connections, and replacement of faulty equipment,” Oduor added.
She added that the company would continue to manage its cost as it makes strategic investments in the network so as to increase reliability and continue to improve the connectivity process in order to enroll more customers to the grid.
Oduor revealed that the company closed the first half of the financial year with a cash position of Sh8.3 billion which included some refaced funds for the projects, receipts from the government on stream lighting programme as well as funds for scheduled bills repayment in the next period to avoid going for expensive debt.
To sustain good performance, the CEO said that the company would focus on dealing with complaints by improving the entire process end to end right from the […]
