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Bamburi Cement posts profit of KES3.7 billion for 2013

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World Cement,

The Directors of Bamburi Cement Ltd, a subsidiary of Lafarge, have announced the audited Group results for the year ended 31 December 2013.

2013 highlights

  • Turnover decreased by KES3.6 billion to KES33.9 billion in 2013 as a result of lower revenues in Uganda due to margin pressure and a reduction in exports.
  • Operating profit stood at KES5.2 billion in 2013, compared to KES.6.8 billion in 2012.
  • Profit before tax decreased from KES7.2 billion in 2012 to KES5.5 billion in 2013.
  • Profit for the year totalled KES3.7 billion, falling from KES4.9 billion in 2012.
  • Earnings per share were KES9.55 in 2013, compared to KES12.17 in 2012.

Outlook for 2014

  • The company anticipates that 2014 will be a better year with the already easing political tensions in Uganda’s major inland export market and the easing of margin pressure.
  • The €2 billion bond issued by the Kenyan government is expected to increase infrastructure development in the country.
  • Energy tariffs in Kenya are predicted to ease in 2H14 and Uganda introduced automatic tariff adjustments with a reduction in base tariffs in January 2014. The commissioning of a new KES467 million petcoke mill in Uganda in 1Q14 is also expected to reduce energy costs.
  • The company will continue to focus on developing market and operational excellence and customer service in order to maintain its position in the market and is looking into capacity increase opportunities in Kenya and Uganda.

Read Bamburi Cement’s 2013 report in full here.

Adapted from press release by Rosalie Starling

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