Cement News tagged under: ARM Cement

RSS feed

ARM Cement first-half pretax profit 20% higher YoY

18 July 2014, Published under Cement News

ARM Cement's pretax profit rose 20 per cent to KES1.2bn (US$13.68m) in the first half of 2014, the Kenyan firm said on Friday. Total revenue increased by 16 per cent YoY to KES7.6bn with cement sales up by 10 per cent in Kenya and by more than a third in Tanzania.  "The east African regional economies are growing briskly, and demand for cement, as well as the other products are expected to grow further," the company said. Its fertilizer line also posted good sales growth after the K...

GCR affirms ARM Cement's ratings, outlook Stable

30 June 2014, Published under Cement News

Global Credit Ratings (GCR) has today affirmed the national scale ratings assigned to ARM Cement Ltd of A(KE) and A1(KE) in the long term and short term respectively. The outlook is Stable. GCR said the Kenyan cement producer's well-entrenched position in the East African cement industry has been augmented by an aggressive roll-out of capacity in the past five years. With the completion of the Tanga plant in Tanzania later this year, ARM will secure clinker sufficiency in FY14/FY15, which...

Kenya: ARM Cement reports 12% rise in pretax profit

01 April 2014, Published under Cement News

Kenya’s second largest cement producer ARM Cement saw a 12 per cent rise in full year pretax profit to KES2bn (US$23.17m). Earnings per share increased to KES2.73 from KES2.52, the company said in a statement.

ARM optimistic on Kitui plant construction start, Kenya

13 February 2014, Published under Cement News

Kenyan producer ARM Cement is getting closer to launching construction of a US$400m plant in Kitui County, the company’s managing director has said. Pradeep Paunrana told local press that the company has received support from the Kitui county government under Governor Julius Malombe. “We are optimistic that in the next few months, we will move on site for the groundbreaking to pave the way for construction to begin,’’ Standard Digital news quoted him as saying. The new plant will be s...

ARM awaits board approval for South African project

03 January 2014, Published under Cement News

ARM Cement is still awaiting board approval for the construction of a new cement plant in South Africa,  the company's managing director, Pradeep Paunrana, has said. Mafikeng Cement, in which ARM has a 70 per cent stake, plans to build a plant a 3000tpd plant in Africa's largest economy, Paunrana told Nairobi-based Business Daily newspaper, Bloomberg reported. However, the company is still awaiting approval from its board of directors, with Mr Paunrana explaining to Bloomberg in an interv...

ARM Cement to start Kitui plant construction next year, Kenya

24 December 2013, Published under Cement News

ARM Cement said it plans to start construction of an 8000tpd plant in Kitui county, Kenya in 2014.  “We plan to start construction of the Kitui plant late next year. It is a major development for us,” Pradeep Paunrana, ARM’s chief executive told the Business Daily in an interview. The company said it will raise up to US$300m (KES25.5bn) to fund new plants over the next five years, including the new Kitui facility. The company had previously said it is committed to building cement capacit...

ARM Cement expects Kenyan market to grow for the next 50 years

07 November 2013, Published under Cement News

Kenya's cement market is set to expand on the back of government infrastructure spending on ports and roads, while house builders trying to meet an annual deficit of some 440,000 units. A Bloomberg report claims that these factors are encouraging ARM Cement Ltd, Kenya’s second-largest cement maker, to raise capital by selling eurobonds to fund a US$300m expansion programme. ARM Cement looks committed to building cement capacity for the long term. Pradeep Paunrana, ARM's managing director, ...

ARM Cement 9M13 pretax profit boosted by higher sales

05 November 2013, Published under Cement News

ARM Cement posted a 28 per cent rise in pretax profit for the first nine months of the year boosted by higher sales. Kenya’s second largest cement producer said on Tuesday its profit rose to KES1.53bn (US$17.9m) as turnover rose 32 per cent to KES10.2bn. Earlier, the company forecast 35 per cent growth in earnings this year helped by increased production capacity due to a new 0.75Mta grinding plant in Tanzania. Next year the company is due to launch its second Tanzanian facility, a 1.5Mta ...

ARM expects new capacity to boost earnings

01 November 2013, Published under Cement News

Kenya’s ARM Cement said it expects earnings to increase at a faster pace this year thanks to its new capacity in Tanzania. In an interview with Reuters, ARM Cement’s chief executive, Pradeep Paunrana, told Reuters that the company is looking to increase its “top line and bottom line by 35 per cent over last year,” and expects similar growth next year regarding its expectations for profitability and sales.. The company commissioned a 0.75Mta grinding plant in the Tanzanian capital of Dar ...

ARM anticipates higher earnings growth

04 October 2013, Published under Cement News

Kenya-based ARM Cement expects a slight acceleration in earnings this year as new capacity in Tanzania boosts volumes, its chief executive has said. Referring to his expectations for profitability and sales, Pradeep Paunrana told Reuters: “This year we are looking at increasing our top line and bottom line by 35 per cent over last year and next year we expect a similar growth.” The company commissioned a 0.75Mta grinding plant in the Tanzanian capital of Dar es Salaam a year ago, adding ...