The Nairobi Securities Exchange. FILE PHOTO | NMG Dividends paid out to multinationals for their controlling stakes in Nairobi Securities Exchange-listed firms are set to drop by 21 percent this year as a few blue-chips reduced their payouts by significant amounts. Multinational firms including Vodacom Group, Diageo Plc, WPP Plc and BAT Plc have received […]
Business News Cement manufacturer Bamburi has reported a 37 per cent drop in profit for the period to December 2019. Bamburi Cement Managing Director Seddiq Hassani. Cement manufacturer Bamburi has reported a 37 per cent drop in profit for the period to December 2019. The firm attributed the dip in earnings to reduced local cement […]
KCB Group CEO Joshua Oigara. FILE PHOTO | NMG KCB Group #ticker:KCB Chief Executive Officer Joshua Oigara has earned Sh1.05 billion in the last four years, benefitting from the performance-based pay that has cemented his position as Kenya’s most rewarded executive. Regulatory filings by KCB, which is Kenya’s biggest bank by assets and most profitable […]
Kenya: Bamburi Cement’s profit before tax grew by 17% year-on-year to US$6.9m in 2019 from US$5.8m in 2018. It attributed the result to cost cutting and an optimisation initiative under its ‘Building for Growth’ plan. It said that this was achieved in spite of a decline in the Kenyan cement market and lower selling prices. […]
Bamburi Cement Group delivered improved profitability for the full year ended December 2019, posting a 17% jump in profit before tax to KShs 0.73 billion as compared to KShs 0.62 billion in 2018. The improved profitability was largely driven by cost cutting and the optimisation initiative undertaken by the group under the ‘Building for Growth’ […]
Bamburi Cement Group has posted a 17 per cent jump in profit before tax to Ksh730 million as compared to Ksh620 million in 2018. The improved profitability for the full year ended December 2019, was largely driven by cost-cutting and optimization initiative undertaken by the Group under the “Building for Growth” strategy. Despite the decline […]
The Group turnover also dropped by 1.1 per cent to Sh36.8 billion compared to Sh 37.2 billion in 2018 attributed to a comparatively adverse market. In 2019 the firm was unable to access the Rwanda market through it’s Uganda based subsidiary Hima Cement Limited , leading to loss of volumes previously sold in Rwanda. Bamburi […]
Bamburi Cement engineers during a past launch of a mobile concrete testing laboratory in Nairobi. PHOTO | SALATON NJAU | NMG Cement makers face a tough year as pandemic-induced demand slump undermines the ability to service the huge finance costs resulting from recent investments made in their battle for market share. Bamburi Cement , which […]
Nairobi Securities Exchange trading floor. FILE PHOTO | NMG Pension schemes’ appetite for riskier investments reduced to 22 percent in the first quarter from 39 percent reported in the previous quarter owing to the Covid-19 pandemic. The 2020 first quarter Zamara Consulting Actuaries Schemes Survey (Z-CASS) report shows schemes took the ‘cash’ flight to avert […]
Bamburi Cement plant in Mombasa. FILE PHOTO | NMG Cement consumption recovered from a dismal run to a surprise 17-month-high in January, taking pressure off manufacturers of the commodity who have been increasing production capacity over the years. Data from the Kenya National Bureau of Statistics (KNBS) shows that January consumption hit 528,904 tonnes, marking […]
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