[Source: Business Daily]
Kenya Power lost Sh5.6 billion in electricity sales, equivalent to about 5.5 per cent of its full year in the four months to June, citing reduced electricity consumption due to coronavirus control measures
The electricity distributor attributed the loss to the Covid-19 restrictions that have seen businesses cut down their activities in response to the pandemic.
The firm has already issued its third profit warning in a row, meaning the utility’s net earnings will decline by at least 25 per cent of last year’s profit of Sh262 million — which was the worst in 16 years.
The Sh5.6 billion is equivalent to about five per cent of its full year sales of Sh112 billion at the…
