Cement News tagged under: Kenya
ARM Cement 9M13 pretax profit boosted by higher sales05 November 2013, Published under Cement NewsARM Cement posted a 28 per cent rise in pretax profit for the first nine months of the year boosted by higher sales. Kenya’s second largest cement producer said on Tuesday its profit rose to KES1.53bn (US$17.9m) as turnover rose 32 per cent to KES10.2bn. Earlier, the company forecast 35 per cent growth in earnings this year helped by increased production capacity due to a new 0.75Mta grinding plant in Tanzania. Next year the company is due to launch its second Tanzanian facility, a 1.5Mta ... |
ARM expects new capacity to boost earnings01 November 2013, Published under Cement NewsKenya’s ARM Cement said it expects earnings to increase at a faster pace this year thanks to its new capacity in Tanzania. In an interview with Reuters, ARM Cement’s chief executive, Pradeep Paunrana, told Reuters that the company is looking to increase its “top line and bottom line by 35 per cent over last year,” and expects similar growth next year regarding its expectations for profitability and sales.. The company commissioned a 0.75Mta grinding plant in the Tanzanian capital of Dar ... |
ARM anticipates higher earnings growth04 October 2013, Published under Cement NewsKenya-based ARM Cement expects a slight acceleration in earnings this year as new capacity in Tanzania boosts volumes, its chief executive has said. Referring to his expectations for profitability and sales, Pradeep Paunrana told Reuters: “This year we are looking at increasing our top line and bottom line by 35 per cent over last year and next year we expect a similar growth.” The company commissioned a 0.75Mta grinding plant in the Tanzanian capital of Dar es Salaam a year ago, adding ... |
Dangote plans to invest in new Kenya plant09 September 2013, Published under Cement NewsDangote Cement plans to invest in a new cement plant in Kenya, according to the country’s president’s office. Aliko Dangote was part of a business delegation that was visiting Kenya with Nigeria's President Goodluck Jonathan. The countries signed bilateral deals in sectors including tourism, agriculture and oil and gas. "(President Uhuru Kenyatta) particularly cited the ... the decision by Nigerian tycoon Aliko Dangote to invest US$400m in a cement processing plant as an indicator that ... |
Kenya’s cement consumption leaps further ahead of production19 August 2013, Published under Cement NewsKenya’s cement industry, the largest in East Africa, will benefit from increased government spending on infrastructure projects and investors should buy shares on price dips, according to Kestrel Capital East Africa Ltd. “Increasing government capital expenditure in power and transport infrastructure projects will aid cement consumption growth,” the Nairobi-based brokerage said. Domestic consumption is growing at a faster rate than production, and Kenya’s market is expected to consume 81 p... |
Bamburi confident on second-half turnaround08 August 2013, Published under Cement NewsKenya's Bamburi Cement reported a 12 per cent decline in pretax profit for the first six months of 2013 but is confident of a second-half turnaround in two of its core East African markets. In the six months to the end of June 2013, the Lafarge Group company posted a pretax profit of KES3.270m (US$37.46m) as turnover fell 18 per cent YoY to KES15.8bn. These results came against a backdrop of uncertainty over an election in its domestic market of Kenya and a slowdown in export markets. H... |
ARM Cement denies pollution claims08 August 2013, Published under Cement NewsARM Cement has denied claims of causing environmental pollution in the Kenyan coastal town of Kilifi, saying that its operations meet international practices and standards. CEO Pradeep Paunrana assured the residents living within the cement maker’s proximity that they are not exposed to pollution caused by cement manufacturing from its process. “Operations are pollution-free within and without the factory and we challenge anybody of contrary opinion to prove us wrong on this,” he said, add... |
ARM's 1H13 pretax profit rises 28%, Kenya10 July 2013, Published under Cement NewsAn increase in sales has helped ARM Cement, Kenya's second-largest cement producer, to achieve a double-digit rise in pretax profit. Pretax profit for the six months ended June jumped to KES1bn (US$11.51m), a rise of 28 per cent YoY, the company said in a statement. Cement sales rose by 28 per cent YoY in the reporting period. The company, which operates a 0.75Mta clinker plant at Kaloeni, near Mombasa, and a 1Mta grinding works in Athi River, has a total grinding capacity of 1Mta. It... |
Athi River calls for use of locally-manufactured product01 July 2013, Published under Cement NewsAthi River Mining Tanzania Ltd is seeking the government’s intervention to stop sub-standard imports entering the local market. Concerns have been raised recently over the quality of imports into the East Africa region amidst claims that some manufacturers are using local agents that are unqualified leading to sub-standard products. Calls have been made for all cement imports to be subject to the same technical standards and regulations as local cement. Rick Ashley, chairman of ARM Cem... |
Kenya: confidence running high for East African Portland Cement10 June 2013, Published under Cement NewsInvestors 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 ... |