CIMERWA posts 6M revenues of RWF44bn

CIMERWA posts 6M revenues of RWF44bn
01 July 2022

CIMERWA Plc (PPC Group) has announced a RWF5.2bn (US$5m) net profit in the six months for the period ended 31 March 2022 with total revenue of RWF44bn, indicating a 45 per cent increase compared to the same period last year.

Albert Sigei, the CEO of CIMERWA Plc,  said: “It has been a great six months and the main factors that helped us include improvement in plant operating efficiency and also some projects that allowed us to open up additional air capacity organically within the factory.

“If you look at the 12 months to March 2022, our capacity utilisation has been above 85 per cent, for a manufacturing entity, it is quite decent but we still have things to work on.

"In addition, the Rwandan market has remained steady and in fact, it has grown by an estimated three per cent over the 12 months. In the previous year, it had grown by a whopping 20 per cent, so it is three per cent on top of 20 per cent, which is very commendable, added Albert Sigei.

In the half year, CIMERWA sold more than 275,000t. “Recently, we made an announcement about crossing half a million mark which means we are on course to do even better than the previous year where we did about 520,000tin a full year," said Mr Sigei. 

Some 80 per cent of the company’s production serves the domestic market and only 20 per cent is exported. However, exports bring in forex and support the company’s dollar-based requirements.

Published under Cement News