KPLC Issues Profit Warning for the Third Consecutive Year
Kenya Power’s net earnings for the year ended June 2020 is expected to drop by over 25 per cent as compared to a similar period last year (2019).
A profit warning issued by the company cites challenges including a tough economic environment and an increase in operations costs and reduced sales due to the economic slowdown caused by the corona virus pandemic.
The Board and Management are focused on enhancing the Company’s financial performance through improving operational efficiency, growing sales, reducing system losses and managing costs, the company said in a statement released to newsrooms earlier this morning.
Over the past three financial year, KPLC has issued profit warnings with the listed utility firm posting one of it’s largest loses in the financial year 2019.