Market data from the LuSE shows that CEC’s share price surged to K25.96 per share by September 1, 2025, up from K13.50 per share a year earlier—representing nearly a 100 percent increase. Although the share price softened slightly toward the end of the year, it closed 2025 at K19.28 per share, the lowest level since June 9, 2025.
The positive market performance follows a strong financial showing by the power utility. CEC recorded a Profit After Tax (PAT) of US$61.5 million for the half-year ending June 30, 2025, up from US$43.2 million in the corresponding period last year. The growth was driven by strong performance across all business segments, including local and regional power sales and wheeling services.
Gross revenues rose to US$360 million during the same period, while profits were further boosted by a US$10.4 million write-back related to a portion of Konkola Copper Mines Plc’s previously impaired debt.
This marks the third consecutive half-year of sustained PAT growth for CEC, following profits of approximately US$30 million in 2022, US$113 million in 2023, and US$43.2 million in 2024.
Commenting on the company’s share price performance, CEC Chief Financial Officer Mr. Mutale Mukuka said investor confidence reflects the market’s belief in the company’s long-term strategy.
“The market buys into the
strategy that the business is following. Some of the risks on our balance sheet are slowly being addressed, including impaired debt write-backs and investments in the renewable subsector,” Mr. Mukuka said.
He added that CEC’s investments in transmission infrastructure and its growing role within the Southern African Power Pool (SAPP)—through regional trade, partnerships, and infrastructure development—continue to strengthen earnings prospects.
Mr. Mukuka also highlighted improvements in corporate reporting as a contributing factor to investor confidence. CEC has transitioned from annual reporting to integrated reporting, incorporating IFRS S1 and S2 standards, which provide greater transparency on governance, non-financial risks, and sustainability matters.
CEC’s share price reached an all-time high of K25.96 per share in September 2025, the highest level since the company listed on the LuSE in January 2008, when it debuted at K0.45 per share.
In support of its renewable energy strategy, the company’s CEC Green Bond has successfully raised US$150 million over the past two years, funding the development of 230 megawatts of solar power.
CEC has also maintained a consistent dividend payment record, which has positively influenced investor sentiment. The Kitwe-based power utility is widely expected to declare another dividend, benefiting its 10,816 shareholders, as it continues to post strong financial results.
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