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 […]
Simon Peter Ole Nkeri, managing director of East African Portland Cement (EAPC), has urged the courts and creditors to give the company time, while it trims staff levels and sells 14,000 acres of land to the newly-established Special Economy Zones Authority (SPEZA). "All we are saying to the court is we need time to sort […]
Bamburi Cement – a LafargeHolcim company operating in East Africa – was hit by weak market conditions in 1H18 with earnings down from KES2.7 billion to KES1.2 billion. Earnings were hit by flat turnover, higher power, coal, and raw materials costs, as well as balance sheet write-offs in Uganda. With earnings down, pre-tax profit fell […]
A section of Bamburi Cement premises in Mombasa. FILE PHOTO | NMG Bamburi Cement has posted a 78.2 per cent drop in net profit for the half year ended June, weighed down by flat sales and higher operating costs. Bamburi, which is 58.6 per cent owned by French multinational LafargeHolcim, saw its net profit drop […]
Kenya’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 […]
Cement maker ARM is seeking government approval to mine limestone in five areas within Kilifi County. According to a Kenya Gazette notice published last Friday, the NSE-listed manufacturer is seeking to mine the raw material over 24.9310 square kilometres in the Chonyi, Pangani, Chauringo, Maereni and Mazeras areas. The Ministry of Petroleum and Mining invited […]
The Nairobi Securities Exchange (NSE) said on Monday it had suspended trading of Kenya’s ARM Cement three days after it was put under administration. “The suspension in trading of the company’s shares takes effect from August 20, 2018,” NSE said in a statement. “This suspension shall remain in force for seven (7) working days.” The […]
(Adds details) NAIROBI, Aug 20 (Reuters) – The Nairobi Securities Exchange (NSE) said on Monday it had suspended trading of Kenya’s ARM Cement three days after it was put under administration. “The suspension in trading of the company’s shares takes effect from August 20, 2018,” NSE said in a statement. “This suspension shall remain in […]
Nairobi Securities Exchange CEO Geoff rey Odundo observing daily trading at the bourse on August 22, 2017/ENOS TECHE Capital Markets Authority yesterday suspended Athi River Mining Cement from trading at the Nairobi Securities Exchange after the firm was placed under administration on Friday. A public notice said shares of the cement-maker will remain suspended from […]
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