Bamburi Cement Plc posted a net loss of KSh 399 million in 2023 compared to a net profit of KSh 181 million in 2022.
- Bamburi Cement posted a pre-tax profit of KSh 1.060bn in 2023 from KSh 659 million in 2022.
- Total operating costs increased to KSh 22.84bn in 2023 from KSh 20.067 bn in 2022 while turnover increased to KSh 22.027bn in 2023 from KSh 20.726 bn in 2022.
- In 2023, Bamburi Cement Group sold off its Uganda-based subsidiary-Hima Cement, at a price of KSh 3.773 bn.
Earnings per Share which measures a firm’s profitability also slid to negative KSh 0.21 from KSh 0.56 in 2022 while Bamburi Cement’s total comprehensive income declined to KSh 3,571 Million in 2023 from KSh 4,323 Million in 2022. The cement maker reported cash generation from operations, which increased to KSh 2.896bn as a result of an improvement in operating profit and efficient working capital management.
Against a strong cash performance, the Board recommends the payment of a first and final dividend of KSh 5.47 per share, amounting to KSh 1.985bn. Bamburi Cement’s share price closed at KSh 45.20 on Wednesday, April 17, 2024, a 3% drop from its previous closing price of KSh 46.60.It began the year with a share price of KSh 35.85 and has since gained 26.1% on that price valuation, ranking it sixth on the NSE in terms of year-to-date performance.
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