Skip to main content

Profit warning issued by Kenya’s Portland Cement

Published by
World Cement,

Reuters are reporting that East African Portland Cement is expecting its profit to fall by more than 25% in the financial year ending 30 June citing year-earlier gains on land sales.

"The unrealised fair value gain on investment property and the gain on disposal of land will not recur this financial year," Portland commented in a statement.

The company's pre-tax loss increased to US$7.33 million in the first half on higher finance costs and foreign exchange losses.

East African Portland Cement recently announced that demand for cement was expected to remain strong due to numerous, ongoing infrastructure projects, but cautioned that an oversupply in the local market would weigh on prices in the short to medium term.

Portland has said that in response it plans to control costs and expected a technical support agreement it has entered into with Lafarge Holcim to boost its operations.

Edited from source by Joseph Green. Source: Reuters

Read the article online at:

You might also like



WCT2020 provides a unique online forum for cement industry professionals to hear first-hand from experts through a series of exclusive presentations from cement producers and industry experts.

Find out more and register for the series »



World Cement Spotlight with Rockwell Automation

World Cement Editor, David Bizley, sat down with Michael Tay, Advanced Analytics Product Manager at Rockwell Automation to discuss his recent article in World Cement.

Entitled ‘Smooth Sailing’, this article explains how machine learning can help save energy, reduce downtime and predict equipment failures, thus enabling the smooth running of cement plant operations.

Watch the interview now »


Embed article link: (copy the HTML code below):