The cement maker’s profit before tax was an improvement from the Sh124 million that it earned in the six months to June last year.
It attributes improved income to cost containment measures that were introduced in the review period.
Likewise, cash generated from operations went up from Sh1.8 billion to Sh2.8 billion.
“The 2023 first-half performance is a clear demonstration of our reliance, adaptability, customer focus and operational efficiency,” Bamburi Cement Managing Director Mohit Kapoor said.
“We remain consistent in providing quality products and services through innovation to bolster topline growth as well as maintaining effective cost management measures that have resulted in business stability even with the unforeseen challenging occurrences,” Kapoor added.
He remained optimistic about the company’s preparedness to remain profitable as it executes operational strategies.
“Our vision and business strategies remain top-notch to deliver quality product and services while ensuring shareholder value,” the firm’s chairperson, John Simba, stated.
“We remain steadfast in our efforts to drive positive performance in the second half of 2023,” he added.
However, its net profit dropped to Sh88 million from Sh95 million in the review owing to a tax settlement in Uganda.
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