Bamburi first-half pretax profit jumps 94%

Bamburi 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 markets were also strong, Bamburi said.

"The outlook for the rest of 2015 is stable, with projected and continued positive growth in all regional East African economies," the company added.