East Africa Portland Cement records 71 per cent profit drop

EAPCC’s revenue fell 22 per cent to Sh2.14 billion from Sh2.76 billion in 2021.

EAPCC gross loss reduced to Sh782 million between June 2021 to June 2022 from Sh821 million in the previous financial period.

The firm also said it had repaired the plant that was breaking down and now expects to increase its production of cement as well as the presence of its products in the market.

It is also eyeing the supply of cement to infrastructure projects.

“Administration and selling expenses decreased by 54% (KES 1.3B) resulting from reduction in loss from disposal of land (KCB debt settlement) and reduced litigation cost amongst others underscoring the impact of cost containment measures embarked on in the year under review,”

“The cost containment initiatives, reduction in finance cost (KES 735M) following settlement of the KCB loan, and the gains from replacement of the Kiln Shell will position the business for a period of take-off as it embarks on implementation of its 5-year Strategic Plan leveraged on its brand equity and rich history,” the firm said in its full year financial statement.

EAPCC launched a new product named Green Triangle Cement that is aimed at minimizing the cement manufacturer’s carbon emissions.

Green Triangle Cement has already received a green light from the Kenya Bureau of Standards under the strength standardization category of 22.5 even though the company has boosted its strength to over 27 to enable it to be applied in a wider variety of construction projects.

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