Bamburi investors to receive Ksh.3.58 per share after posting Ksh.1.4 billion net profit in 2021
Bamburi Cement Plc net profit for the year ended December 31, 2021 surged by 27.3 percent to Ksh.1.4 billion compared to Ksh.1.1 billion posted same period in 2020.
The performance has been attributed to volume growth in Kenya and Uganda because of solid performance in retail and key accounts segments.
This reflects the continued economic recovery from the impact of the COVID-19 pandemic.
Overall average selling price improved compared to the prior year on account of Kenya’s higher proportion of premium product sales.
Group’s Operating Profit for 2021 grew by 17 percent to Ksh.2.3billion compared to Ksh.2.0 billion in 2020.
Its pre-tax profit for 2021 grew to Ksh.2.2 billion compared to Ksh.1.8 billion in 2020, primarily driven by the growth in operating profit.
The cash flow generated from operations at Ksh.4.4billion was lower than Ksh.6.9 billion in 2020.
Turnover for the full year 2021 was up 19 percent to Ksh.41.4billion compared to the prior year’s Ksh.34.9billion.
The Board of Bamburi Cement Plc has recommended paying a first and final dividend of Ksh.3.58 per ordinary share amounting to Ksh.1.3 billion.
It will be paid on or about July 26, 2022.