Bamburi Cement profit up 94% in first half

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Kenya: Bamburi Cement has reported a 94% jump in its pre-tax profit for the first half of 2015 to US$43m compared to the first half of 2014. Turnover grew to US$186m from US$166m, as governments and others continued to invest in infrastructure projects.

The company attributed the strong performance to growth in demand in its two main markets of Uganda and Kenya, cost cutting and gains in its US-Dollar-based liquid assets due to a steep weakening of the Ugandan and Kenyan currencies. Exports to other African markets were also strong.

"The outlook for the rest of 2015 is stable, with projected and continued positive growth in all regional East African economies," said Bamburi in a statement.

Last modified on 01 September 2015

URL: https://www.globalcement.com/news/item/4078-bamburi-cement-profit-up-94-in-first-half

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