Giant telecommunications company, Safaricom was the top mover of the day on Tuesday at the Nairobi Securities Exchange (NSE). The telecom sold 19.23 million shares at a market capitalization of 1.08 trillion shillings. Kenya Power and Lighting Company was the second top mover of the day with 3.30 million shares with a market capitalization of […]
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 […]
Kenya-based Bamburi Cement has posted a 37 per cent YoY fall in net profit in 2019. Net profit declined to KES359m (US$3.39m) from KES572m in 2018. The company attributed the decrease in profit to reduced domestic cement consumption, low prices and an inability to access the Rwandan market due to the closure of the border […]
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 […]
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 […]
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