Kenya Power’s full-year pre-tax profit dips 91.98%

PUBLISHED: Fri, 28 Feb 2020 10:20:34 GMT

Kenya Power’s pre-tax profit for the year ended June 2019 dropped by 93 per cent to $3.31 million, attributing the drop to the higher costs of buying electricity. Also, the unaudited results for the six month period ending December 31, 2019 the East African Portland Cement made $15.6 million loss after tax, with sales revenues up 8 per cent to hit. The Competition Authority of Kenya has approved the proposed acquisition of control of Gulf Energy Holdings Limited by KenoL Kobil PLC. David Kingoo, Manager at Cytonn Investments joins CNBC Africa for more.

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