ARM's 1H13 pretax profit rises 28%, Kenya

ARM's 1H13 pretax profit rises 28%, Kenya
Published: 10 July 2013

Tagged Under: Results ARM Cement Kenya Tanzania 

An increase in sales has helped ARM Cement, Kenya's second-largest cement producer, to achieve a double-digit rise in pretax profit.

Pretax profit for the six months ended June jumped to KES1bn (US$11.51m), a rise of 28 per cent YoY, the company said in a statement. Cement sales rose by 28 per cent YoY in the reporting period.

The company, which operates a 0.75Mta clinker plant at Kaloeni, near Mombasa, and a 1Mta grinding works in Athi River, has a total grinding capacity of 1Mta. It has also recently established a presence in neighbouring Tanzania with a US$75m plant in Dar es Salaam which opened in October 2012 and has a capacity of 0.75Mta. It will be joined in 2014 by a US$120m 1.5Mta works in Tanga.

ARM Cement said it remains positive on its outlook and has forecast a strong performance for the remainder of the year.