EAPCC announces net loss for 2H17

EAPCC announces net loss for 2H17
01 March 2018

East African Portland Cement Company (EAPCC) has announced that its net loss worsened in the half-year period ended 31 December 2017. The loss widened by 290 per cent YoY to KES969.57m (US$9.57m) from KES248.12m of the year-ago period, according to The Star. This has been attributed to a fall in revenue to KES3.06bn from KES3.72bn, due to the adverse effects of political activity.

"Revenue declined due to slow market uptake on account of prolonged political activity which dampened investment decisions and thus slowed down economic activities," said the firm said in its financial statement.

The company is hoping that the government’s Agenda Four initiative, which would see housing and manufacturing become top priorities, may return it to profitability. 

Published under Cement News

Tagged Under: EAPCC business results Kenya