ARM Cement cut full-year loss for 12 months through December 2016 by 3.14 per cent, the country’s third largest cement maker by market share announced yesterday. The firm, whose shares trade on the Nairobi Securities Exchange, said loss reduced to Sh2.8 billion in 2016 from Sh2.89 billion the year before. ARM experienced strained cash flow throughout the year as well as increased competition and lower selling prices, especially in Tanzania. “The construction sector in Kenya has remained buoyant and cement prices remained stable whilst volumes grew at over 10 per cent during 2016,” Paunrana said. KNBS data shows that cement consumption went up 10.5 per cent from 5.7 million tonnes in 2015 to 6.3 million tonnes in 2016.

Source: The Star May 02, 2017 22:07 UTC