Kenya’s Athi River H1 09 pretax profit up 16 per cent

Kenya’s Athi River H1 09 pretax profit up 16 per cent
Published: 05 August 2009

Kenya’s third-biggest cement maker, Athi River Mining, said on Wednesday pretax profit for the first half of 2009 rose 16 per cent to KES2.4bn (US$31.35m).

The company said turnover rose by 16 per cent, with half of it coming from cement sales.

Pretax profit stood at KES2.07bn in the first half of 2008.

Earnings per share rose 32 per cent to KES6.06 from KES4.60 in the same period a year ago, the company said in a statement.

The company is building a US$120m, 4000tpd cement plant in Tanga, northern Tanzania. It hopes the plant, due to be completed late next year, will help it meet booming demand for cement from across the region.

It is also expanding its cement production capacity in Kenya.