Bamburi Cement Ltd has today announced a twelve percent increase in revenue in its half year results for the period January to June 2015 compared to the previous year. Group turnover for the period under review grew to Kshs. 19.3 billion from KSh17.3 billion bolstered by strong growth in the infrastructure and contractor segments.
Commenting on the Company‟s results, the Board stated “We have made good progress by ratcheting up sales locally and within the region.” The growth in operating profits has arisen from growth in sales volumes, a better external cost environment, together with the positive impact of the progressive cost initiatives and process improvement measures that we have adopted across our operations in both countries.
The Bamburi Cement Group posted an increase in operating profit to Kshs. 4 billion compared to last half year‟s Kshs. 2.2 billion. When the operating profit is added to investment income and large foreign exchange gains on dollar denominated liquid assets, the cement manufacturer‟s pretax profits improved to Kshs. 4.5 billion from Kshs. 2.3 billion.
“We are optimistic that the business environment will re remain stable in the second half of the year,” stated Managing Director Bruno Pescheux.
He continued: “The outlook for the rest of 2015 is positive, with projected and continued growth in all East African economies, underpinned by a robust construction industry. Macro-economic indicators are projected to be largely stable but with some caution on the changing environment, especially in the energy sector. In addition, the measures by respective Central Banks to curb inflation and currency depreciation though policy interest rate increases in both our primary market countries, could have an impact on growth prospects.”
Mr Pescheux said the Company has benefited tremendously from our prior cost and process improvement initiatives. ‟We shall continue with such initiatives, and will also strengthen our activities to exceed our Customer expectations through innovations, across all our operations. This together with our strong brands and marketing efforts, and better external cost enviroment, should leverage us in these growing markets. In addition, we will leverage the strength that comes with being part of the world‟s leader in building materials, LafargeHolcim, and look at all options to continue being the highest performing company in the building materials industry in East Africa,‟ he concluded.
Contact
Bamburi Cement Group
Corporate Affairs & Communications Director
Susan Maingi: +254 20 2893300
Bamburi Cement Group
Finance Director
Eric Kironde: +254 20 2893300