Bamburi’s Pre-Tax Profit Falls

Bamburi’s Pre-Tax Profit Falls
Published: 20 February 2004

Kenya’s largest cement-maker has reported a 16 per cent decline in pre-tax profit for the year ending December 2003.  Bamburi Cement Company, which is partly owned by Lafarge, is also reaping the effects of a price war with East African Portland for most of last year and a corresponding price freeze in the halting Ugandan economy.  The profit before tax and minority interest was down from Sh2 billion to slightly over Sh1.7 billion.  This was despite growth in turnover from Sh10 billion to Sh10.4 billion, which was unfortunately accompanied by a 15 per cent dip in operating profit.