KenGen's share price at the NSE shed 11.2 per cent on Friday to close at Sh11.50 a piece from the previous day's close of Sh12.95 after its net profit nearly halved. Supply was twice the demand at 1.72 million units on the sell-side against 827,000 units on the buy-side. The electricity generator's after-tax profit for the period ended June 30 plummeted to Sh2.83 billion from Sh5.23 billion in the previous year, a 45.9 per cent decline. It attributed the drop to higher costs of staff, insurance and spare parts owing to new plants installed in the period. KenGen also did not get a tax credit...
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