Bamburi expects 2H profit growth to slow, Kenya

Bamburi expects 2H profit growth to slow, Kenya
Published: 16 December 2009

Bamburi Cement Ltd., the Kenyan unit of Lafarge SA, expects profit to slow in the second half of the year because it will be measured against a higher base period, Lafarge Regional President John Stull said.

Annual profit is expected to grow at a slower rate than the first half, which had been compared to a low base after post- election violence in Kenyan in the first two months of 2008 hit the economy, Stull said in an interview in Athi River, south of the capital, Nairobi, today.

The company posted a 33 percent rise in net income in the first six months of 2009 as local and regional demand for the building material grew, it said on Aug. 31.

“I would expect the second half to be not as good than the first half,” Stull said.