Bamburi Cement posts half-year pre-tax profit of KES 621 million

By Eunice WAWUDA

Bamburi Cement PLC has announced a pre-tax profit of KES 621 million for half year period, an improvement from KES 124 million the cement maker returned in a corresponding period last year.

It attributed the growth in performance to cost containment measures implemented during the review period.
The significant rise in the profit before tax led to a 260% increase in cash generated from operations to KES 2.8 billion from KES 1.8 billion for the same period in 2022.

The firm’s Group Managing Director Mr. Mohit Kapoor noted that despite the high inflation and the weakening shilling, which impacted on production costs, the company remained committed to deliver strong results.

“The 2023 first-half performance is a clear demonstration of our reliance, adaptability, customer focus and operational efficiency.

We remain consistent in providing quality products and services through innovation to bolster topline growth as well as maintaining effective cost management measures that have resulted in business stability even with the unforeseen challenging occurrences,” noted Kapoor.

At the same time, a tax settlement in Uganda affected the net profits, which dropped to KES 88 million from KES 95 million recorded in the first half of 2022.

On the outlook, Mr. Kapoor remains optimistic, underlining that Bamburi Cement is well positioned to remain profitable as the company continues to execute its operational strategies and commercial excellence to enhance positive results growth.

The Group’s Chairman Dr. John Simba said, “As a market leader, our vision and business strategies remains top-notch to deliver quality product and services while ensuring shareholder value. We remain steadfast in our efforts to drive positive performance in the second half of 2023.”