Kenyan Bamburi Cement's H1 profit hit by financing costs

Kenyan Bamburi Cement's H1 profit hit by financing costs

Kenya's Bamburi Cement posted a 12.86 percent fall in pretax profit for the first half of this year to 3.7 billion shillings ($43.89 million), hurt by financing costs that exceeded revenue growth. The turnover of the largest cement maker in the east African nation, Lafarge had increased by 17 percent to 19.2 billion shillings.
"The regional cement market will continue to be vibrant. Focus will be on retaining the upward trend of revenue growth," Bamburi said in a statement, adding that recent capacity enhancement would also help. "The group will continue to capitalise on progress made in its cost control measures to cushion the top line."

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