[Wilberforce Okwiri, Standard]East African Portland Cement Company (EAPCC) narrowed its loss by 35 per cent for the six months ended December 2020 on reduced administrative and selling costs. “This accrued from the ongoing business reorganisation geared towards aligning manpower costs to current productivity levels,” said the cement maker in results published yesterday. The cement maker said it was at the “tail end” of terminating its corporate loan facility to stem high finance expenses through balance sheet restructuring. Finance costs in the six months fell 31.25 per cent to Sh1.1 billion from Sh1.6 billion in 2019. “The board remains optimistic that with the conclusion of the business reorganisation initiatives, the company will return to profitability,” it said.

Source: Standard Digital February 26, 2021 21:16 UTC