Kenya Power and Lighting Company PLC delivered another solid set of audited results for the year ended 30 June 2026, with improved revenue, higher profitability and a stronger balance sheet, according to Stephen Vikiru Kinadira, General Manager Finance.
“Pleased to share another strong set of audited results for the year ended 30 June 2026. Improved revenue, strong profitability, a healthier balance sheet, and continued investment in the network,” Kinadira said.
“The recommended final dividend for the year, building on the interim dividend already paid, is a reflection of our commitment to sustained shareholder value. There’s more ahead as we keep investing in a more efficient, reliable, and financially sustainable utility.”
Profit after tax rose 2.1% to KSh24.99 billion from KSh24.47 billion in the previous year. Revenue from contracts with customers climbed 8.6% to KSh238.24 billion, up from KSh219.29 billion, driven largely by higher electricity sales and increased demand across customer categories.
Gross margin improved from KSh74.62 billion to KSh85.59 billion, while profit before tax edged up from KSh35.38 billion to KSh36.01 billion.
Total electricity sales grew 12.05% to 12,777 GWh from 11,403 GWh, supported by higher volumes across customer segments and the connection of 411,710 new customers. Distribution and transmission efficiency also improved, rising from 78.79% to 81.42%. Enhanced revenue-protection initiatives further supported the top-line performance.
Finance costs fell sharply by about 34.7%, from KSh4.72 billion to KSh3.08 billion, mainly due to lower interest expenses following a reduction in outstanding loan balances. Operating expenses, however, increased from KSh42.42 billion to KSh53.75 billion, partly reflecting higher expected credit losses, staff costs, depreciation and other operating expenses.
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The balance sheet strengthened notably. Total assets rose by KSh32.45 billion to KSh421.49 billion, underpinned by continued investment in network expansion, reinforcement and modernisation. Capital expenditure during the year stood at approximately KSh28 billion.
Working capital turned positive, moving from a negative KSh19.21 billion in June 2025 to a positive KSh1.90 billion at the end of June 2026 — an improvement of KSh21.11 billion that bolstered short-term liquidity.
Borrowings declined to KSh79.82 billion, with amounts due within one year falling to KSh10.64 billion. The gearing ratio improved from 73% to 55%, while the debt-to-equity ratio dropped from 0.80 to 0.60. Shareholders’ equity increased from KSh109.34 billion to KSh131.80 billion.
