East African Portland climbs most in three weeks on profit

East African Portland climbs most in three weeks on profit
Published: 01 March 2010

East African Portland Cement Co., Kenya’s second-biggest cement maker, headed for its highest close in almost three weeks after reporting a first-half profit compared with a loss a year ago and saying second-half sales will improve.

The stock jumped 5 shillings, or 6.3 percent, to 85 shillings as of 10:58 a.m. in Nairobi.

The company posted net income of 630.1 million shillings ($8.19 million) for the six months through December compared to a loss of 391.91 million shillings a year earlier, it said in an e-mailed statement on Feb. 26.

East African Portland expects sales to improve in the second half of the fiscal year on rising construction demand.