Mombasa Cement has dislodged East Africa Portland Cement Co (EAPCC) from the second position in Kenya with a market share of 15.8 per cent, while EAPCC has dropped to third place with a market share of 15.1 per cent.
Mombasa Cement's Nyumba brand just lies behind LafargeHiolcim's Bamburi Cement, which dominates the sector with a 32.6 per cent market share, according to Construction Kenya.
The latest round of company results has seen both EAPCC and ARM Cement hit by falling revenues and net losses. EAPCC disclosed a net loss of KES969.6m in the six months to December 2017 with revenues falling by KES660m (US$6.5m) to KES3bn (US$29.6m).
"Revenue declined by 18 per cent due to slow market uptake on account of prolonged political activity which dampened investment decisions and thus slowed down economic activities," EAPCC said.
Meanwhile, ARM Cement, which posted a KES1.4bn (US$13.8m) operating loss in the first half of 2017 on reduced sales during the period.
