Bamburi Cement, the country's largest cement maker, posted a nearly flat growth last year in full-year net income for the period ended December 2016 despite a significant drop in production costs. Bamburi yesterday said net profit grew 0.3 per cent to Sh5.89 billion from Sh5.87 billion in 2015. Production costs dropped seven per cent to Sh24.79 billion from Sh26.67 a year earlier. “Overall, there was a marginal reduction in volumes into inland Africa export markets and intense competition particularly in the individual home builder segment impacting prices in some markets. The value of assets also dropped to Sh33.76 billion from Sh34.33 billion.

Source: The Star March 09, 2017 20:44 UTC