Bamburi half year profit hits Ksh.776 million
Published on: August 27, 2021 02:00 (EAT)
Manufacturer Bamburi Cement has posted a 7.6 per cent growth in its half year profit to Ksh.776 million on improved sales. The company’s turnover has improved by 21 per cent to Ksh.19.6 billion from a lower Ksh.16.2 billion. The improved sales have helped offset a 15.6 per cent surge in operating costs to Ksh.18.5 billion. The firm says it has recorded volume recovery in both its domestic and exports market alongside an increased demand for its premium cement products which pushed the average selling prices. The cement manufacturer has further benefited from ongoing government infrastructure projects including the Nairobi Expressway and Thwake dam. Bamburi is banking on continuing infrastructure projects by the government in Kenya and key oil and gas projects in Uganda to anchor further growth for the Group. “The past year has been a learning curve that has enabled us to evolve towards more modern business practices as we continue to set industry standards on quality, operational efficiency, and innovation. We maintain a positive outlook for the rest of the year as the government continues to roll out the Covid-19 vaccination programs and ease-off containment measures which we hope will continue to drive progressive economic recovery,” said Bamburi Cement Plc Managing Director Seddiq Hassani. Bamburi’s earnings per share have improved to Ksh.1.86 after the profit rise.