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UPDATE 1-KenGen's year profit jumps 11 pct to 4 bln shillings
September 26, 2012 / 4:26 PM / 5 years ago

UPDATE 1-KenGen's year profit jumps 11 pct to 4 bln shillings

(Adds details)

NAIROBI, Sept 26 (Reuters) - Kenya’s main electricity producer KenGen posted an 11 percent rise in full year pretax profit to 4.045 billion shillings ($47.53 million), helped by increased output from new plants, it said on Wednesday.

The firm attributed the improved profits to a 14.5 percent increase in revenue to 17.4 billion shillings, buoyed by improved electricity sales due to increased production capacity from newly commissioned power plants.

On the other hand, operating costs rose at a slower pace, increasing 2.5 percent, KenGen said in a statement.

The company plans to install an additional capacity of 65 megawatts by 2014 from its geothermal fields, it said, adding another plan to generate an additional 560 MW of geothermal electricity were at an early stage.

It raised its dividend per share by 20 percent to 0.60 shillings.

$1 = 85.1000 Kenyan shillings Reporting by Duncan Miriri; Editing by William Hardy

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