Kenya Power was the second-worst performer at the Nairobi Securities Exchange (NSE) on Monday, 9th November 2020, even as the listed state utility firm prepares to hold its electronic annual general meeting with shareholders this Friday, November 13th, 2020.
When trading at the bourse closed today, KPLC share prices plunged 4.49% to close at KSh 1.70, from the previous KSh 1.78. This counter moved a volume of 1.68 Million shares in 65 deals that resulted in a turnover of KSh 2.87 Million.
KPLC was the second top mover at the bourse behind Safaricom and ahead of Kenya Reinsurance, Britam and KCB Group. Over the past 52 weeks, the price of a KPLC share has swung between a low of KSh 1.63 and a high of KSh 3.60.
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According to National Treasury’s Consolidated National Government Investment Report, which takes stock of government’s investments, Kenya Power soaked up a net loss of KSh 2.98 billion at the end of its financial year ended 30th June 2020.
This is compared to a net profit of Sh262 million it posted in the year to June in 2019.
Kenya Power is expected to publish its audited results in January 2021, following an extension granted by the Capital Markets Authority (CMA). This follows delays in the appointment of the Auditor-General.
During the financial year ended 30th June 2020, Kenya Power’s revenue rose 18.5% to KSh 133.2 Billion compared to KSh 112.4 Billion in 2019.
ALSO READ: Kenya Power & KenGen to Delay Publishing Full Year Results
