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Date 09/03/2017

Bamburi Cement Group posts 8 percent growth on operating profits in their 2016 performance results.

The Board of Directors of Bamburi Cement Limited met on 9th March 2017 to approve the audited results for the year ended 31st December 2016.

The Board of Directors of Bamburi Cement Limited met on 9th March 2017 to approve the audited results for the year ended 31st December 2016.

 

Commenting on the Company's results, the Board stated "Our 2016 full year results confirm the effectiveness of the Group strategy in delivering consistent and sustainable performance in a competitive environment''. The Group posted an operating profit of KES 7.9 billion mainly driven by product innovation and diversification supported by operational excellence and robust cost management. This was further enhanced by the strong public investment in key infrastructure projects across the region that bolstered strong growth in the infrastructure and contractor segment.

 

Group turnover for the period under review stood at KES. 38 billion,slightly below prior year. This was mainly on account of slowed private investment in individual home builder segment in the latter half of 2016, coupled with lower exports to Inland African markets.   

 

The Group continued to generate cash from its operations of KES 6.9 billion, but registered a lower net cash position to the prior year, arising from the higher tax contribution to the Exchequer of KES 3.5 billion, up from KES. 2.5 billion paid in 2015, an increase in working capital and mobilization funds for the capacity increase project.

 

 ‘'We are pleased to have delivered positive results in 2016 and we remain optimistic of the market growth prospects in both our domestic and inland Africa export markets in 2017''.  The Managing Director Bruno Pescheux said in a statement.  ‘'Overall in Kenya and Uganda, we have seen the business show great resilience.  We will continue to implement several tactical and strategic initiatives in the market, that enhance our customer experience, develop our product portfolio offering, our human capital and our operational Capacity, of which will cement our regional market leadership position in the medium to longer term''.

 

The commencement of Phase 1 capacity increase investment decision in both Kenya and Uganda signals the Groups confidence in the region and underscores our belief of the projected and continued growth in all East African economies, underpinned by a robust construction industry and that the demand for cement and cement related products is expected to continue to rise.

 

 

 

Notes to editors

Bamburi Cement Limited, a subsidiary of LafargeHolcim, and is the leading cement manufacturing and marketing Company in the Eastern Africa region, having been operational for 63 years. It has three subsidiaries Hima Cement Ltd (Uganda), Bamburi Special Products Ltd and Lafarge Ecosystems Ltd.

More information is available on Bamburi Cement Group website www.Lafarge.co.ke

 

LafargeHolcim is the leading global building materials and solutions company serving masons, builders, architects and engineers all over the world. Group operations produce cement, aggregates and ready-mix concrete which are used in building projects ranging from affordable housing and small, local projects to the biggest, most technically and architecturally challenging infrastructure projects.  As urbanisation increasingly impacts people and the planet, the Group provides innovative products and building solutions with a clear commitment to social and environmental sustainability. With leading positions in all regions, LafargeHolcim employs around 90,000 employees in more than 80 countries and has a portfolio that is equally balanced between developing and mature markets.

 

More information is available on LafargeHolcim website: www.Lafargeholcim.com 

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