East African Portland Cement narrows half-year loss

Kenya-based East African Portland Cement Co, owned by Holcim, has narrowed its half-year loss to KES907.1m (US$8m) in the six months to December 2021 from KES1.035bn in the equivalent period of the previous year.

This was achieved despite a decline in the company’s revenues to KES967.7m in the 1HFY21-22 from KES1.4bn in the 1HFY20-21.

The company attributed the improved loss result to a cost containment drive. Administration and selling expenses were down by nearly two per cent to KES532.4m from KES540.5m over the period, while finance costs declined 62.4 per cent to KES101.3m from KES269.5m over the same period.