Cement News tagged under: Bamburi Cement
Bamburi sees 37% drop in net profit in 201911 May 2020, Published under Cement NewsKenya-based Bamburi Cement has posted a 37 per cent YoY fall in net profit in 2019. Net profit declined to KES359m (US$3.39m) from KES572m in 2018. The company attributed the decrease in profit to reduced domestic cement consumption, low prices and an inability to access the Rwandan market due to the closure of the border with Uganda, denying its Uganda subsidiary Hima Cement access to the Rwandan market early last year. Bamburi’s revenues slipped by 1.2 per cent to KES36.79bn in 2019 fro... |
Kenya's cement consumption recovers in January29 April 2020, Published under Cement NewsKenyan cement consumption reached a 17-month-high in January 2020, according to the Kenya National Bureau of Statistics (KNBS). Demand hit 528,904t during the month and marked the second straight month of recovery. The last time consumption was above this level was in August 2018 at 531,119t. The recovery is expected to relieve pressure on cement producers in the country which has seen new capacity come onstream despite declining demand. Bamburi Cement’s Managing Director, Seddiq Hassa... |
Bamburi Cement acts to protect market share24 October 2019, Published under Cement NewsKenyan cement production capacity is now estimated at 12Mt, according to industry leaders, while annual demand ranges between 5-6Mta. Cement prices are below levels recorded more than a decade ago, yet power prices have either climbed or remained flat. However, it has not stopped Bamburi Cement from trying to expand. Bamburi Cement (LafargeHolcim group) unveiled a KES3.5bn (US$33.9m) grinding plant at its Athi River facility in 2018 among other capacity enhancements, said managing dir... |
Hima Cement in consultation for Moroto mining rights23 October 2019, Published under Cement NewsBamburi Cement’s subsidiary, Hima Cement, is consulting leaders and the local community in Moroto in Uganda, to access surface mining rights. Hima Cement (LafargeHolcim group) is in the process of acquiring a mining lease for the extraction of limestone and marble in Rupa subcounty. Hima Cement has earmarked a block of 14.26km 2 in the location. Don Bwesigye, the lead consultant for Hima Cement, says the company has been on the ground since 2015 when it acquired an exploration licen... |
Bamburi to dispose of Shell waste oil30 September 2019, Published under Cement NewsKenya’s Bamburi Cement’s waste division, Geocycle and Vivo Energy Kenya have agreed to collect and safely dispose of waste oil from Shell service stations across the country and Vivo Energy’s commercial customers. The initiative will see waste oil co-processed in Bamburi Cement’s kilns. Around 20,000l of waste oil per month is currently being collected by Shell service stations across Kenya. The partnership with Geocycle will reduce the logistical challenges faced by Shell when collecting ... |
Bamburi Cement 1H19 pretax profit declines23 August 2019, Published under Cement NewsBamburi Cement reported a turnover of KES18.663bn (US$181.18m) in the1H19, up 0.6 per cent when compared with KES18.556bn in the 1H18. The Kenya-based cement producer’s pretax profit fell to KES23m from KES722m in the first six months of 2018. The company’s profits were impacted by higher energy and logistics costs. However, profitability is expected to recover in the second half of the year. |
Bamburi Cement sees operating profit fall to KES0.8bn in 201816 April 2019, Published under Cement NewsBamburi Cement (LafargeHolcim) has reported that operating profit fell to KES0.8bn (US$7.92m) in the 2018, from KES4.2bn in 2017. The decline was attributed to higher energy costs in power, coal and petcoke as well as price rises in raw materials and imported clinker. However, group turnover grew by 3.7 per cent from KES36bn in 2017 to KES37.2bn in 2018. |
Bamburi Cement forecasts profit drop of 25% in 201811 December 2018, Published under Cement NewsBamburi Cement (LafargeHolcim group) has given a profit warning of earnings likely to drop by 25 per cent in 2018 following difficult market conditions and escalating international energy prices in Kenya and Uganda. "The company wishes to inform the shareholders and potential investors that, based on the preliminary assessment of the unaudited consolidated management accounts, the 2018 full-year earnings of the Group are expected to decrease by more than 25 per cent, compared with the year ... |
Bamburi Cement issues profit warning for 201807 December 2018, Published under Cement NewsKenya’s Bamburi Cement has issued a profit warning for the financial year ended December 2018, with investors expecting the company's lowest earnings in 10 years, according to Business Daily. "The Board of Directors (the "Board") of the Company wishes to inform the shareholders of the Company and potential investors that, based on the preliminary assessment on the unaudited consolidated management accounts, the 2018 full year earnings of the Group are expected to decrease by more than 25 ... |
Bamburi Cement appoints Grace Oluoch as new FCO22 October 2018, Published under Cement NewsKenya-based Bamburi Cement has appointed Grace Oluoch as the company’s new finance director. She succeeds Eric Kironde, who has been Bamburi’s FCO since 2011. “The company is pleased to announce the appointment of Grace Oluoch as finance director,” the Nairobi Securities Exchange-listed company said in a regulatory notice Friday. Ms Oluoch has had a long career with consumer goods giant Unilever holding different roles in South Africa, Ghana, Nigeria and Kenya. |