KenGen Posts 4.6 Billion Shillings in Profits After Tax

Kenya Electricity Generating Company has posted a 4.6 billion shilling profit in a six-month financial year that ended 31st December 2016.

The electricity generator on the other hand posted 6.6 billion shillings in profits before tax in the results that were released on Monday morning.

During the period, the company issued out rights issues in an effort to raise funds for its newly launched projects and according to the results, more than 300 million shares were not taken up during the rights issue.

The image below shows the income statement breakdown for the half year under review:

The company had a steady cash flow as shown in the image below:

Early last year, KenGen was granted tax incentives on its projects which in terms, according to the company, accounted profits into losses. According to the Section 7A OF THE Income Tax Act, charges compensating tax on payment of dividends out of untaxed profits and this triggered compensating tax to 2.43 billion shillings.

Related: Kenya Power Posts KSh 5.6Bn Profit before Tax