Kenya: Bamburi Cement’s profit rose slightly to US$57.4m in 2016 from US$57.2m in 2015. Its operating profit rose by 8% to US$76.7m from US$70.9m. However, its turnover fell by 3% to US$371m from US$382m. It blamed the fall in turnover on high competition, particularly in the individual homebuilding market. It also reported a fall in sales volumes of cement although this was offset by infrastructure and contractor markets in Kenya, Uganda and Rwanda. The cement producer added that the cement grinding plants it is building in Kenya and with its subsidiary Hima Cement in Uganda are on schedule to be completed in mid-2018.
Bamburi Cement builds profit in 2016 despite competition
Written by Global Cement staff
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