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Bamburi cement fy2016 profits flat
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ngapat
#1 Posted : Friday, March 10, 2017 12:28:33 PM
Rank: Veteran

Joined: 12/11/2006
Posts: 930
Cement maker Bamburi Group has reported flat growth in its after-tax profit, citing falling demand in domestic and regional markets as well as rising competition.
The Nairobi Securities Exchange-listed company recorded a profit after tax of Sh5.89 billion for the year ended December 2016, a 0.3 per cent rise over the profit recorded during a similar period last year. The company’s turnover fell to Sh38 billion from Sh39.2 billion in 2015.

http://www.businessdaily...43782-152y7om/index.html
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  | | Edit by user: Friday, March 10, 2017 12:29 PM | Reason: Not specified
sparkly
#2 Posted : Friday, March 10, 2017 1:45:35 PM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
ngapat wrote:
Cement maker Bamburi Group has reported flat growth in its after-tax profit, citing falling demand in domestic and regional markets as well as rising competition.
The Nairobi Securities Exchange-listed company recorded a profit after tax of Sh5.89 billion for the year ended December 2016, a 0.3 per cent rise over the profit recorded during a similar period last year. The company’s turnover fell to Sh38 billion from Sh39.2 billion in 2015.

http://www.businessdaily...3782-152y7om/index.html


Buyer's market

Full results link https://view.publitas.co...year-ended-31-dec-2016/

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  | | Edit by moderator: Friday, March 10, 2017 2:37 PM | Reason: results link
hisah
#3 Posted : Friday, March 10, 2017 2:23:18 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
TA says there is some weakness that could see 120 handle tested. It will be critical for that support to hold otherwise the bears could do some serious damage.

IMO after comparing BAMB to ARM, the latter offers better opportunity. I will be loading ARM post FY as well as based on the month end price close.

$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Pesa Nane
#4 Posted : Saturday, March 11, 2017 3:01:24 PM
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Joined: 5/25/2012
Posts: 4,105
Location: 08c
Pesa Nane plans to be shilingi when he grows up.
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Aguytrying
#5 Posted : Saturday, March 11, 2017 4:31:22 PM
Rank: Elder

Joined: 7/11/2010
Posts: 5,040
hisah wrote:
TA says there is some weakness that could see 120 handle tested. It will be critical for that support to hold otherwise the bears could do some serious damage.

IMO after comparing BAMB to ARM, the latter offers better opportunity. I will be loading ARM post FY as well as based on the month end price close.



ARM below 20 is tempting. Haven't calculated the eps, NAV since the increase in shares
The investor's chief problem - and even his worst enemy - is likely to be himself
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Ebenyo
#6 Posted : Saturday, March 11, 2017 5:43:18 PM
Rank: Veteran

Joined: 4/4/2016
Posts: 2,016
Location: Kitale
Aguytrying wrote:
hisah wrote:
TA says there is some weakness that could see 120 handle tested. It will be critical for that support to hold otherwise the bears could do some serious damage.

IMO after comparing BAMB to ARM, the latter offers better opportunity. I will be loading ARM post FY as well as based on the month end price close.



ARM below 20 is tempting. Haven't calculated the eps, NAV since the increase in shares


aguytrying ulikuwa umepotelea wapi?
Towards the goal of financial freedom
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Pesa Nane
#7 Posted : Friday, June 09, 2017 9:44:46 AM
Rank: Elder

Joined: 5/25/2012
Posts: 4,105
Location: 08c
Pesa Nane plans to be shilingi when he grows up.
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Pesa Nane
#8 Posted : Saturday, June 10, 2017 10:55:34 AM
Rank: Elder

Joined: 5/25/2012
Posts: 4,105
Location: 08c
Pesa Nane wrote:


Quote:
Ex-NBK finance chief Chris Kisire quits Bamburi board

Former National Bank of Kenya chief finance officer Chris Kisire has left Bamburi Cement's board less than a month after he was charged with defrauding the lender of more than Sh77 million.

The regional cement maker announced Mr Kisire had quit after serving nine years as per the rules of the Capital Markets Authority (CMA) — which had said it is probing him on the matter.

His departure incidentally comes ahead of his trial on the fraud charges, which commences next month.

Ambassador Chris Karanja, another independent director, also quit under the same CMA rules.
“Chris Kisire has tendered his resignation which the Board has accepted with regret,” Bamburi Cement company secretary Betty Kanyagia in a notice to the Nairobi Securities Exchange.
Arrested
The former banker was last month arrested by the Banking Fraud Unit and charged with theft



Pesa Nane plans to be shilingi when he grows up.
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Chaka
#9 Posted : Saturday, June 10, 2017 7:33:47 PM
Rank: Elder

Joined: 2/16/2007
Posts: 2,114
In this case the,the board should have accepted the resignation with pleasure?Can someone post those CMA rules?
Pesa Nane wrote:

“Chris Kisire has tendered his resignation which the Board has accepted with regret,” Bamburi Cement company secretary Betty Kanyagia in a notice to the Nairobi Securities Exchange.
Arrested
The former banker was last month arrested by the Banking Fraud Unit and charged with theft



[/quote]
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  | | Edit by user: Saturday, June 10, 2017 7:57 PM | Reason: Not specified
heri
#10 Posted : Wednesday, August 16, 2017 7:46:08 AM
Rank: Member

Joined: 9/14/2011
Posts: 869
Location: nairobi

Cement production, use fall in first half


http://www.businessdaily...56658-6roav7/index.html

Cement consumption in Kenya fell by 62,000 metric tonnes in the first five months of the year, raising the prospect of the first annual decline in consumption in more than a decade.

Savannah Cement is raising the annual production at its Athi River plant from 1.2 million to 2.4 million tonnes, while Bamburi and ARM are adding 900,000 and 650,000 tonnes per annum in capacity — all set to be on-stream by 2019.
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  | | Edit by user: Wednesday, August 16, 2017 7:47 AM | Reason: Not specified
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