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News Bamburi expects better second half of 2013 to follow first half slump

Bamburi expects better second half of 2013 to follow first half slump

Written by Global Cement staff 09 August 2013
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Kenya: Bamburi Cement expects a robust second half of 2013 according to Reuters, after it saw its pretax profit drop by 12% in the first half of 2013. It attributed the decline to uncertainty over the Kenyan elections and a slowdown in its export markets.

Bamburi, which is controlled by the French multinational cement giant Lafarge, posted a first-half pretax profit of US$37.46m, while its turnover declined by 18% to US$180.8m.

"We started seeing a significant turnaround in the markets of Kenya and Uganda with continued signs of an improving macro-economic environment in both countries," said the company. "The group is therefore strongly optimistic of a stronger second half."

Last modified on 14 August 2013
Published in Global Cement News
Tagged under
  • Results
  • Kenya
  • Forecast
  • Bamburi
  • GCW113

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