Reuters are reporting that Kenya's Bamburi Cement posted a 46% rise in full-year pretax profit to US$83.51 million, helped by increased sales and investment income and foreign exchange gains.
The company said in a statement that its turnover rose 9% to 39.2 billion shillings.
Bamburi announced that it made a foreign exchange gain of 104 million shillings from a loss of 170 million shillings in 2014, while investment income rose to 374 million shillings from 349 million shillings.
Earnings per share increased to 14.49 shillings from 9.80 shillings.
It recommended a dividend of 7.00 shillings per share, up from 6.00 shillings in 2014.
New research by GlobalData’s MEED has shown that the commercial value of construction contracts issued in the Gulf Cooperation Council (GCC) fell by more than 50% in the first eight months of 2020 compared to the same period in 2019.