Kenya’ Bamburi Cement’s HI profit of KES 2.3 billion in H1 2014

Kenyan company Bamburi Cement made a pre-tax profit of KES 2.30 billion (€19.60 million/US$26.19 million) in the six months to June 2014, down 28% year-on-year. While revenue was up 9.5% to KES 17.3 billion with increased volumes, higher power costs, increased clinker imports and a new Kenyan mining levy have pushed down margins. Group finance director Eric Kironde is reported as saying that economic growth and urbanisation in the East African Community (EAC) will continue to drive demand for cement a

August 13, 2014 Read time: 1 min

Kenyan company Bamburi Cement made a pre-tax profit of KES 2.30 billion (€19.60 million/US$26.19 million) in the six months to June 2014, down 28% year-on-year.

While revenue was up 9.5% to KES 17.3 billion with increased volumes, higher power costs, increased clinker imports and a new Kenyan mining levy have pushed down margins.

Group finance director Eric Kironde is reported as saying that economic growth and urbanisation in the East African Community (EAC) will continue to drive demand for cement and related products.

Ongoing cost controls including the deployment of alternative energy sources would improve operating profits.

Savannah Clinker places US$190mn counteroffer on Bamburi Cement

The race to acquire Bamburi cement has taken a new twist after a Kenyan cement company placed a counteroffer to acquire Bamburi cement barely a month after a Tanzania firm, Amsons Group, made a bid to acquire a 100 per cent stake in the company.