Cement News tagged under: Bamburi Cement
Bamburi Cement forecasts profit drop of 25% in 201811 December 2018, Published under Cement NewsBamburi Cement (LafargeHolcim group) has given a profit warning of earnings likely to drop by 25 per cent in 2018 following difficult market conditions and escalating international energy prices in Kenya and Uganda. "The company wishes to inform the shareholders and potential investors that, based on the preliminary assessment of the unaudited consolidated management accounts, the 2018 full-year earnings of the Group are expected to decrease by more than 25 per cent, compared with the year ... |
Bamburi Cement issues profit warning for 201807 December 2018, Published under Cement NewsKenya’s Bamburi Cement has issued a profit warning for the financial year ended December 2018, with investors expecting the company's lowest earnings in 10 years, according to Business Daily. "The Board of Directors (the "Board") of the Company wishes to inform the shareholders of the Company and potential investors that, based on the preliminary assessment on the unaudited consolidated management accounts, the 2018 full year earnings of the Group are expected to decrease by more than 25 ... |
Bamburi Cement appoints Grace Oluoch as new FCO22 October 2018, Published under Cement NewsKenya-based Bamburi Cement has appointed Grace Oluoch as the company’s new finance director. She succeeds Eric Kironde, who has been Bamburi’s FCO since 2011. “The company is pleased to announce the appointment of Grace Oluoch as finance director,” the Nairobi Securities Exchange-listed company said in a regulatory notice Friday. Ms Oluoch has had a long career with consumer goods giant Unilever holding different roles in South Africa, Ghana, Nigeria and Kenya. |
LafargeHolcim03 September 2018, Published under Cement NewsLafargeHolcim has acquired Metro Mix LLC, a ready-mixed concrete producer in Denver, Colorado, which last year produced a turnover of some US$30m from two batching plants, employing in excess of 50 people. LafargeHolcim’s Kenyan subsidiary Bamburi Cement, active in Kenya and in Uganda has announced a first-half turnover 0.2 per cent lower than a year earlier at KES17,556m (EUR157.8m), with the trading profit falling by 56.2 per cent to 1164m (EUR9.9m) and the pretax profit falling by 72.9... |
Bamburi Cement records 78% net profit decline in 1H1831 August 2018, Published under Cement NewsKenya’s Bamburi Cement has posted a 78.2 per cent YoY drop in net profit for the half-year period ended 30 June, falling to KES399m (US$3.96m) from KES1.83bn. Revenue remained flat at KES18.55m, compared to KES18.58bn of the previous year. The company noted the effects of a contracting market in Kenya on its performance. Meanwhile, in Uganda, a combination of lower sales due to production challenges, competitive pressure on prices and a slowdown in government expenditure negatively impact... |
Bamburi Cement launches new rapid concrete solution30 July 2018, Published under Cement NewsBamburi Cement has launched a ready-mix concrete that will speed up construction time by enabling continuous concrete pour in projects of more than 2000t in under 48h. Pours of this volume usually take almost a month using traditional methods. The new product, Poweraft, is designed for the construction of foundations for skyscrapers, bridge piers and generally all applications requiring mass delivery of fresh concrete. Bamburi Cement’s Managing Director, Seddiq Hassani, said that Powera... |
Kenya's cement consumption falls to 1.4Mta in 2Q1813 July 2018, Published under Cement NewsCement demand in Kenya has fallen to 1.4Mta in the second quarter of the year, according to a report from the Kenya National Bureau of Statistics (KNBS). The agency attributes the drop to a continued slowdown in real estate activity. In the first quarter of 2017 domestic cement consumption reached 1.5Mt but has since decreased. Furthermore, the continuing decline was also reflected in a 15.7 per cent drop in cement imports as well as in an eight per cent fall in clinker imports during the... |
LafargeHolcim02 July 2018, Published under Cement NewsLafargeHolcim has started its EUR100m+ investment in its Martres-Tolosane plant in Haute Garonne, southern France, with completion envisaged in 2020. This should enable the use of alternative materials in clinker production to be increased from 39 to 80 per cent and the overall capacity of the works to be raised by some 20 per cent. Huaxin Cement, a 41.8 per cent-owned LafargeHolcim associate has formed a 50 per cent-owned associate in Nepal to build a US$140m cement works at Dhading. Hu... |
Bamburi Cement completes construction of grinding plant29 June 2018, Published under Cement NewsKenya’s Bamburi Cement has announced that construction of its 0.9Mta grinding plant at Athi River, south of Nairobi, has been completed. The facility represents a KES4bn (US$39.62m) investment and is part of the company’s expansion plan launched in 2015. "The contractor is on schedule and will soon be handing the project over to the company for full operation," said Seddiq Hassani, CEO, Bamburi Cement. The company’s Power Plus and Power Max brands will be relocated from Mombasa to the new... |
Ugandan cement producers struggle to participate in SGR project14 May 2018, Published under Cement NewsLocal cement producers will have to change their products to supply the new Standard Gauge Railway (SGR) project in Uganda. The SGR project is a mega railway transportation network that will be constructed by Chinese firm, China Harbour Engineering Company. "The cement we have is not cement meant for the railway, we benchmarked from Kenya and found that Bamburi plant in Mombasa had changed its manufacturing configuration to meet these [SGR] standards," said SGR project coordinator, Kasingy... |