ARM posts flat full-year pretax profit

Kenya's ARM Cement posted a pretax profit of KES2.02bn (US$22m) for 2014, up one per cent YoY.

The cement maker, which also has operations in Tanzania, said its revenue for the period fell three per cent to KES13.74bn, mainly because there was no additional capacity expansion during the period, the firm said.

In a statement, the firm predicted that this year would be better, with growth in turnover and profit.

"The cement markets continue to grow at double digits with significant demand from the infrastructure segment," it said.

Earnings per share rose to KES3.01 from KES2.74 shillings in the previous year, largely helped by a lower tax bill.

Earlier this year, ARM commissioned its KES14.6bn cement plant in Tanga, Tanzania, as part of the firm’s regional expansion stratagem. The plant has a capacity of 1.5Mta.