Kenya Power to delay announcement of annual results

Power distributor, Kenya Power has announced that it will delay the publication of its audited financial results for the year ended 30th June 2019.

The power firm has attributed this to the delay in appointment of a new auditor-general.

It joins KenGen and East Africa Portland Cement, who have also made similar announcements.

According to regulation 63(7) of the Capital Markets, state-controlled companies must secure the Auditor General’s approval for reporting the audited financial results.

Capital Markets Authority requires companies to publish their results within three months after the close of the review period. In this case, October 31, 2019.

The firm on Tuesday announced the appointment of a new substantive MD/ CEO Bernard Ngugi replacing the acting CEO Jared Othieno.

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