By KENNEDY MUPESENI –
THE Copperbelt Energy Corporation (CEC) has posted US$227.8 million in revenue for the first half of this year.
This is 22 per cent above the comparative period last year primarily driven by growth in the regional power supplies of 63 percent revenue in the six months ended June 30, 2024.
The company disclosed in the first half unaudited financial results at the weekend that local power sales recorded some recovery, growing by seven per cent while wheeling revenue had a marginal growth of two percent growth.
It stated that Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) and the profit for the period reduced by 62 percent from US$184.3 million to US$70.8 million and US$113.0 million to US$ 43.2 million respectively.