This archive report was first published on 29 August 2021.
On August 29, 2021, Bamburi Cement Plc released its half-year results for 2021, showing a significant improvement in profitability compared to the same period in 2020.
The company's net profit for the first six months ending June 30, 2021, stood at KSh 776 million, a 7.6% increase from KSh 721 million in the same period of 2020.
Turnover increased to KSh 19.6 billion in H1 2021 from KSh 16.2 billion in H1 2020, while operating profit rose to KSh 1.1 billion from KSh 228 million in H1 2020.
According to the company, the improved profitability is attributed to the recovery of the cement market from the depressed 2020, which was affected by COVID-19 containment measures.
"We maintain a positive outlook for the rest of the year as the government continues to roll out the Covid-19 vaccination programs and ease-off containment measures which we hope will continue to drive progressive economic recovery," said Seddiq Hassani, Bamburi Cement Managing Director.
Dr. John Simba, Chairman of Bamburi Cement Plc, attributed the positive prospects for the Group to the Kenyan government's continued commitment to delivering the 'Big 4' agenda and ongoing key infrastructure projects in Uganda.
