Cement News tagged under: East African Portland Cement Co

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EAPCC issues profit warning

16 May 2014, Published under Cement News

East African Portland Cement Co Ltd (EAPCC) expects profit for its full year through June to fall by more than 25 per cent, it said on Friday. The company blamed rising competition in the sector and high staff costs for the forecast. "These challenges have had an adverse effect on sales revenues whilst staff and other unavoidable costs were incurred," EAPCC said in a statement.

Tande's term as MD of East African Portland Cement extended, Kenya

25 April 2014, Published under Cement News

Kephar Tande's term as managing director of East African Portland Cement Co (EAPCC) has been renewed for a further three years. Industrialization and Enterprise Development Cabinet Secretary Adan Mohamed confirmed the extension of Tande’s tenure, effective from November 2013. "I wish to thank the cabinet secretary and president, Uhuru Kenyatta, for the re-appointment. I am committed to fully implementing the strategy that the company has embarked on to raise its market share and to ensure...

EAPCC pretax profit hit by rising costs

27 March 2014, Published under Cement News

East African Portland Cement Co (EAPCC) said on Wednesday its pretax profit more than halved for the six months ended December due to rising administration and sales costs. Portland's pretax profit fell to KES171m (US$2m) from KES376.5m in the same period in 2012. The Kenyan firm, which also operates in Uganda, said its total revenues rose 0.4 per cent to KES4.57bn, while cost of sales increased 1.4 per cent to KES3.25bn. Administration and selling expenses rose to KES1.26bn from KES1b...

EAPCC to tap Tanzanian market

25 February 2014, Published under Cement News

East African Portland Cement Co (EAPCC) plans to enter the Tanzanian market, senior management has revealed. "We are looking at Northern Tanzania and have already identified a partner situated in Arusha," Kepha Tande, managing director of the Kenya-based cement producer, said on Friday. Tande said that stiffer competition in the company’s domestic market has led it to seek new markets to improve sales. EAPCC's market share has dropped by close to 12 per cent from 33 per cent three years...

EAPCC plans to hike capacity, Kenya

14 January 2014, Published under Cement News

East African Portland Cement (EAPCC), Kenya’s third largest producer, is planning to install a new clinker line and mill to lift capacity by 2016, the company’s CEO told local press. EAPCC, in which Lafarge and Bamburi Cement have a 41 per cent stake, operates a 1.4Mta cement plant in Athi River. Speaking to Standard Media of Kenya, Kepha Tande said the company is carrying out a feasibility study for a clinker plant in in Bissel, Kajiado, and also has plans to establish a new grinding ...

EAPCC in spat with CMA over Lafarge appointment

31 December 2013, Published under Cement News

East African Portland Cement Company (EAPCC) has gone to court, seeking to lift the suspension of its annual general meeting resolutions by the Capital Markets Authority (CMA), according to a report in Kenya’s Business Daily. The company argues that the CMA lacks the mandate to suspend the resolutions since AGMs are overseen by the Registrar of Companies. CMA suspended the resolutions by shareholders two weeks ago following a protest from the government, which is the majority shareholder. ...

EAPCC swings to full-year profit, Kenya

28 October 2013, Published under Cement News

East African Portland Cement Co (EAPCC) has posted a profit for the full-year ending June 2013, having recorded a loss in the same period of last year. The company, in which Lafarge and Bamburi Cement each have a stake, reported that profit after tax rose to KES1.7bn (US$20m) compared to a net loss of KES972.7m the year before, the Nairobi Securities Exchange said on Friday. Sales increased by 8.2 per cent YoY to KES9.2bn while the cost of sales fell by 6.9 per cent. “This was due to ...

Kenya: confidence running high for East African Portland Cement

10 June 2013, Published under Cement News

Investors in East African Portland Cement Company saw the cement manufacturer’s share price rally to a 12-month high at the end of trading on Friday. Shareholders hope that the company will post a profit in the full-year period ending 31June. Local analysts confirm that confidence is returning and investors can expect the cement maker to post a profit in the full-year period, having previously been in the loss-making territory. “There’s expectation of good performance and better turnover ...

East African Portland Cement eyes expansion

26 February 2013, Published under Cement News

Kenya’s East African Portland Cement Co (EAPCC) is exploring the option of expanding its operations both at home and in neighbouring Tanzania, according to reports by Reuters. “We are now discussing the financing of these projects,” Reuters quoted managing director, Kephar Tande as saying. Cost cutting measures and improved cement sales helped EAPCC post a profit for the first six months of last year. EAPCC made a pretax profit of KES376.27m (US$4.3m) for the six months ended December, co...

EAPCC announces new strategy, Kenya

01 October 2012, Published under Cement News

East African Portland Cement Company (EAPCC) of Kenya has announced the appointment of two  management positions and revamp its strategy implementation and operations as it aims to increase efficiency. EAPCC has appointed two managers to head its production and human resources departments. Former Bamburi Cement and Athi River Mining employee Engineer Charles Charo is the new Head of Production Operations. Charo has 25 years of experience in cement manufacturing while John Ole Kimanjoi has...