East African Portland Cement has released unaudited results for the six months ended December 31, 2017. The results show that the company’s net earnings for the period dropped by 290.8 percent to a loss of Sh969.6 million.
The total revenue decreased by 18 percent to Sh3.1 billion while the cost of sales dropped by 5 percent to Sh2.9 billion.
The earnings before interest, tax, depreciation, and amortization (EBITDA) dipped by 106 percent to Sh84.4 million while the company’s earnings before tax dropped by 114.6 percent to a loss of Sh1.2 billion.
The earnings per share decreased by 334.2 percent to Sh-10.55 while the total assets recorded a 1.5 percent decrease to Sh26.9 billion. The cash generated from operating activities dropped by 1.3 percent to a loss of Sh1136.5 million.
No interim dividend has been recommended.
