NSE-listed electricity producer, KenGen Kenya has reported a half year profit before tax of Ksh 8.38 Billion compared to 3.79 Billion reported the previous period.
Its profit after tax grew by 15% to stand at Sh5.7 billion, compared to Sh4.92 billion recorded in 2014.
KenGen’s Finance costs went up by 17% to Ksh 1.62 Billion compared to 2014’s Ksh 1.32 Billion.
Total Revenues went up by 52.5% to 18.53 billion shillings versus 12.19 billion shillings reported in 2014 over the same period.
KenGen EPS went up to Ksh 2.58 compared to the previous period’s Ksh 2.24.
KenGen on Friday 26th Feb closed at Ksh 7 per share at the Nairobi Securities Exchange which is 29.63% above the all time low of 5.40 set on Jan 27, 2016. The sharp drop in share price is attributed to the the upcoming rights issue whereby investors are in fear of a possible dilution.