Kenyan Power and Lighting Company (KPLC) has bounced back to profitability after years of loss-making
The company’s board of directors chair Vivienne Yeda attributed the strong performance to the company’s 2020 turn-around strategy
During the period under review, the electricity distributor connected 716,206 new customers leading to a 5% growth in unit sales
This, in turn, led to an 8.2% increase in revenue from KSh 133.3 billion in the previous financial year to KSh 144.1 billion
Electricity distributor Kenya Power has bounced back to profitability after years of loss-making. Kenya Power staff at work. Photo: Kenya Power Care. Source: Facebook On Friday, October 29, the 70% state-owned company announced a KSh 1.5 billion profit after tax for the period ended June 2021.
Kenya Power’s board of directors chair Vivienne Yeda attributed the strong performance to the company’s 2020 turn-around strategy that focused on improving customer experience, growing sales, enhancing revenue collection, enhancing system efficiency, and prudent cost management. “As a Company, we are pleased with this set of results because it is a clear demonstration that the investments we have made in driving a strong performance by the core business lines are beginning to bear fruits. Having said that, we are cognisant of the fact that a lot more needs to be done to fully transform Kenya Power into a 21st century organisation,” Yeda said in a statement . Do you have a groundbreaking story you would like us to publish? Please reach us through news@tuko.co.ke or WhatsApp: 0732482690. Expanded customer base
During the period under review, KPLC’s unit sales recorded a 5% growth from 8,171 GWh to 8,571 GWh.
This, the company said, was mainly driven by 716,206 new customer connections who contributed an additional 400 GWh, even as the economy rebounded from the effects of the COVID-19 pandemic.
The commercial and industrial section grew by 4.8%, the small commercial by 5.1%, domestic customers by 4.9% and street-lighting by 10.2%.
This, in turn, led to an 8.2% increase in revenue from KSh 133.3 billion in the previous financial year to KSh 144.1 billion.
The lighting company said it also cuts its operating expenses by 17% from KSh 47.8 billion to KSh 39.9 billion by undertaking greater cost management and resource optimisation initiatives.Finance costs on the other hand dropped from KSh 12.5 billion to KSh 9 billion whereas system losses, which had risen to 25.21% in the first half of […]
