Business

Bamburi to pay Sh1.3bn dividend


Companies

Bamburi to pay Sh1.3bn dividend


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A cement truck leaves Bamburi manufacturing unit in Mombasa. FILE PHOTO | NMG

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Summary

  • The agency has proposed to develop its dividend 19.3 p.c to Sh3.58 per share in contrast with Sh3 per unit, or a cumulative Sh1.1 billion, which it paid shareholders within the earlier yr.
  • Bamburi’s internet earnings elevated to Sh1.38 billion from Sh1.13 billion the yr earlier than, it introduced on Tuesday, citing elevated gross sales and cost-cutting measures.
  • The publicly-traded agency, which additionally has operations in Uganda, mentioned gross sales rose 18.62 p.c to Sh41.38 billion from Sh34.88 billion a yr earlier.

Bamburi Cement Plc #ticker:BAMB has introduced Sh1.3 billion in dividend for the yr ended final December after elevated gross sales lifted its revenue by 22.2 p.c.

The agency has proposed to develop its dividend 19.3 p.c to Sh3.58 per share in contrast with Sh3 per unit, or a cumulative Sh1.1 billion, which it paid shareholders within the earlier yr.

Bamburi’s internet earnings elevated to Sh1.38 billion from Sh1.13 billion the yr earlier than, it introduced on Tuesday, citing elevated gross sales and cost-cutting measures.

The efficiency got here in a yr cement consumption in Kenya jumped 23.73 p.c to 9.13 million tonnes with producers elevating manufacturing 24.04 p.c to 9.27 million tonnes, in response to the Kenya National Bureau of Statistics.

The publicly-traded agency, which additionally has operations in Uganda, mentioned gross sales rose 18.62 p.c to Sh41.38 billion from Sh34.88 billion a yr earlier.

“This significant increase [in revenue] was driven by volume growth in Kenya and Uganda on account of strong performance in retail and key accounts segments. This also reflects the continued economic recovery from the impact of the Covid-19 pandemic,” Bamburi’s board chair John Simba mentioned in an announcement.

“The group’s overall average selling price improved compared to the prior year on account of Kenya’s higher proportion of premium products sales.”

The largest producer of cement in East Africa joined its friends in elevating retail costs for the important thing development materials, citing elevated value of operation.

Operating prices in 2021 bumped 18.25 p.c to Sh39.17 billion regardless of the agency implementing “robust cost management through various cost initiatives and operational efficiencies”.

The primary uncooked supplies for cement are typically extracted from limestone whose reserves are largely accessible domestically.

Bamburi — managed 58.6 p.c by France’s Lafarge via Fincem Holding and Kencem Holding — mentioned its bills had been pressured upwards by the elevated value of coal, energy, imported clinker and gas costs.

Bamburi sees additional progress in cement demand this yr pushed by “sustainable housing projects and significant investments in infrastructure projects” in Kenya and “greater investment in public infrastructure, especially in the oil industry” in Uganda.

The agency on February 1 signed an influence buy cope with MOMNAI Energy to arrange two photo voltaic crops for its factories in Mombasa and Nairobi, projecting the crops will account for about 40 p.c of its energy provide on completion.

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