EAPCC pretax profit hit by rising costs

East African Portland Cement Co (EAPCC) said on Wednesday its pretax profit more than halved for the six months ended December due to rising administration and sales costs.

Portland's pretax profit fell to KES171m (US$2m) from KES376.5m in the same period in 2012.

The Kenyan firm, which also operates in Uganda, said its total revenues rose 0.4 per cent to KES4.57bn, while cost of sales increased 1.4 per cent to KES3.25bn. Administration and selling expenses rose to KES1.26bn from KES1bn, while earnings per share dropped to KES2.03 from KES3.68.