Bamburi Cement reports 66% fall in net profit for 2017

Bamburi Cement has recorded a 66 per cent YoY fall in its net profit for the full-year 2017 period, decreasing to KES1.97bn (US$19.51m) from KES5.8bn. The results have been attributed to lower sales in Kenya after the prolonged election cycle, tightened liquidity and delayed projects, according to All Africa.

Similarly, operating profit dropped 50 per cent to KES4.1bn as a result of lower revenue and higher energy prices. Overall, group turnover slipped KES2bn YoY to finish at KES36bn.

However, the company has remained positive in its outlook for 2018. "The market is expected to rebound in line with the projected growth in both domestic and regional markets in 2018," said Bamburi in a statement. "The group continues to optimise on its administrative costs, costs to serve and its innovative product mix”.