reports
- Gerald Muriuki
Kenya Power & Lighting Company Plc (NSE: KPLC) FY19 Earnings Note
Kenya Power Ltd (NSE: KPLC) has announced a significant drop in FY19 performance (unaudited, pending appointment of Auditor General), with an EPS of KES 0.13 (-92.0% y/y). Results were worsened by a fast rise in power purchase costs (+34.3% y/y) on account of additional capacity (360MW) from Lake Turkana Wind Power Plant and the Garissa Solar Power Project. Additionally, interest costs rose substantially (+46.8%) due to increasing reliance on short term funding and overdrafts to finance working ...
- Gerald Muriuki
Kenya Power & Lighting Company Ltd (NSE: KPLC) 1H19 Earnings Note
Kenya Power Ltd (NSE: KPLC) announced a negative growth of 16.7% y/y in 1H19 EPS to KES 1.25 despite a strong y/y growth in electricity sales (21.4%). Other key revenue lines; Forex adjustment and fuel costs recovered, declined 82.0% y/y and 34.0% y/y respectively, driving total revenue to grow by a marginal 3.4% y/y. Cost management remains a formidable challenge with transmission costs rising 37.3% y/y. This is majorly on account of 100.0% y/y increase in provisions (KES 2.46Bn) and accelerate...
- Gerald Muriuki
Kenya Power and Lighting Company Ltd (NSE: KPLC) FY18 Earnings Note
Kenya Power Ltd (NSE: KPLC) released disappointing FY18 bottom-line results, an EPS drop of 63.8% against restated FY17 financials. Total revenue and gross profit rose marginally by 4.2% y/y and 3.7% y/y respectively. However, dampening operating profitability and bottom-line was a 714% y/y increase in provisions relating to receivables that are past 30 days to KES 6.1Bn (under new accounting standard, IFRS 9, from Jan 2018) and 29.3% y/y increase in finance costs. The higher finance costs relat...
Ford Equity International Rating and Forecast Report
Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind...
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