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Kenya Power profit to drop over tariff cut and forex losses

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Kenya Power employees in a mobile workstation at Uhuru Gardens on May 1,2023, during Labor Day celebrations. [Denish Ochieng, Standard]

Kenya Power on Thursday issued a profit warning, indicating that it expects its profit for the period to June this year to decline by more than 25 per cent.

The firm attributed the drop to foreign exchange losses incurred on account of the weakening of the Shilling against the US dollar as well as a 15 per cent reduction in power prices implemented in January 2022.

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