Cement News tagged under: Bamburi Cement
Kenya: LafargeHolcim accused of conflicting priorities over EAPCC holdings08 July 2016, Published under Cement NewsThe outgoing chief executive of the East Africa Portland Cement Company (EAPCC), Kephar Tande, has told Kenya’s Standard newspaper that LafargeHolcim should either divest itself of its holdings in the firm or take it over completely. Kephar Tande, who steps down in November, said that LafargeHolcim’s 41.7 per cent stake in EAPCC makes the multinational firm his largest shareholder. However, LafargeHolcim also holds a 58.9 per cent stake in Bamburi Cement, Kenya’s biggest producer. Mr T... |
Kenya: Bamburi Cement sees 50% profit hike in 201517 March 2016, Published under Cement NewsBamburi Cement’s profit jumped 50.4 per cent YoY to KES5.8bn (US$748m) in 2015 as both domestic and overseas sales saw growth. Operating expenses increased 29 per cent YoY to KES5.2bn. The profit was achieved despite a slowing Kenyan economy in 4Q15, according to Bruno Pescheux, group MD. The 2015 market conditions were more favourable compared to 2014, with stable micro-economic conditions for most of the year in both the domestic and regional markets,” he said. The company saw its operati... |
Bamburi Cement full-year pretax profit rises 46%11 March 2016, Published under Cement NewsKenya's Bamburi Cement posted a 46 per cent rise in full-year pretax profit to KES8.46bn (US$83.51m), helped by increased sales and investment income and foreign exchange gains. The LafargeHolcim group company said turnover rose by nine per cent to KES39.2bn. Bamburi said it made a foreign exchange gain of KES104m from a loss of KES170m in 2014, while investment income rose to KES374m from KES349m. "Turnover increased ... driven by increased demand in the key domestic markets in Kenya an... |
Kenya: Bamburi railway supply boost02 February 2016, Published under Cement NewsBamburi Cement says it has earned KES1bn (US$9.8m) from supply of cement to the standard gauge railway (SGR) contractor, China Road and Bridges Corp (CRBC) according to a report by the Business Daily (Kenya). The cement maker is among local firms contracted by a Chinese contractor to supply materials for the KES327bn project. Bamburi said in an interview that it has supplied 300,000t of cement to the rail project since September 2014, earning it “over KES1bn.” “The SGR contract has incre... |
Kenya: Bamburi rolls out training seminars for improved construction quality standards30 September 2015, Published under Cement NewsOver 1600 masons from across the country are set to benefit from a training programme organised by Bamburi Cement to improve skills in the building and construction industry in Kenya. Bamburi Cement rolled out the free training seminars from across the country in August, a move aimed at improving construction quality standards in the country. The training seminars are part of the Builders Academy initiative started 12 years ago by the company, with the main objective to enhance masons’ ski... |
Bamburi first-half pretax profit jumps 94%28 August 2015, Published under Cement NewsBamburi Cement reported a 94 per cent jump in first-half pretax profit from a year earlier to KES4.5bn (US$43m). According to Reuters, the company attributed the strong performance to growth in demand in its two main markets, Uganda and Kenya, cost cutting and gains in its dollar-based liquid assets due to a steep weakening of the Ugandan and Kenyan currencies. Turnover grew to KES19.3bn from KES17.3bn a year earlier on the back of infrastructure investments. Exports to other African marke... |
Bamburi upbeat on outlook14 April 2015, Published under Cement NewsKenya-based Bamburi Cement’s operating growth increased by 5.8 per cent last year to KES5.5bn (US$60m) and is upbeat on the outlook for both local and export sales. “We are very optimistic about market growth prospects in both our domestic and inland Africa export markets and are well positioned to benefit from them,” Bruno Pescheux, group managing director, told East African Business Week. “At the same time, a number of large infrastructure projects have been or are being launched in bo... |
Bamburi Cement pretax profit grows by 5.5%06 March 2015, Published under Cement NewsBamburi Cement of Kenya yesterday announced a 5.5 per cent increase in pretax profit from KES5.5bn (US$1.8bn) to KES5.8bn in its full-year results for 2014. Group’s turnover increased by six per cent from KES34bn in 2013 to KES36bn mainly as a result of improved market conditions in Uganda, which is expected to continue into 2015. Commenting on the company’s results, the board stated: “We have made good progress by ratcheting up sales locally and within the region. In addition to improvi... |
Bamburi posts first-half pretax profit drop08 August 2014, Published under Cement NewsBamburi Cement posted a 28 per cent drop in first-half pretax profit to KES2.3bn (US$26.2m) from KES3.2bn a year earlier. The Lafarge group company attributed the decline to rising power costs, increased use of imported clinker and the introduction of a mining levy in Kenya. Operating profit fell 27 per cent to KES2.2bn compared KES3bn in the comparative period of 2013. However, turnover rose 9.5 per cent as a result of higher sales volumes in the first half of the year both to domestic ma... |
Kenya: Holcim won't buy out Bamburi Cement10 July 2014, Published under Cement NewsHolcim said it has no intention of making a takeover offer for Bamburi Cement Ltd in Kenya if competition regulators allow its planned merger with Lafarge SA, Bloomberg reports. “We have no intention of making a takeover offer for BCL,” Holcim said. Bamburi will continue to trade on the Nairobi Securities Exchange, it said. Holcim, based in Switzerland, and Paris-based Lafarge SA are seeking antitrust backing for a planned US$40bn merger they intend to complete by the 1H15. Once the transa... |