KenGen delays publishing full year results

Electricity generating company KenGen has delayed the disclosure of its full-year results to June 2022 as it cites hitches in finalizing its financial statements for the period.

In a trading statement on Friday, the company says it has sorted and received approval from the Capital Markets Authority (CMA) to publish its financial results by November 30.

Under current requirements, KenGen is obligated to disclose its financial performance within four months of the end of the financial year or October 31.

In the year to June 2021, KenGen reported a sharp 93.5 percent profit after tax declined to Ksh.1.2 billion from Ksh.18.4 billion as its tax charge went up from a credit of Ksh.4.6 billion to a liability of Ksh.13.6 billion.

In six months to December 31, 2021, the NSE-listed firm posted a flat Ksh.5.1 billion net profit as its tax expense went up again to Ksh.2.4 billion from Ksh.1.8 billion previously.

Despite the profit slide in the previous financial year, KenGen paid a first and final dividend of 30 cents per share totaling a shareholder payout of Ksh.2 billion, equalling its 2020 financial year payout.