Pradeep Paunrana, Athi River Mining Cement CEO. Athi River Mining after-tax profit rose 8 per cent for the year through December 2013. PHOTO/FILE Photo/FILE/NATION MEDIA GROUP
In Summary
This rise has been attributed to increased sales in its Tanzanian arm. The cement manufacturer earned Sh1.3 billion compared to Sh1.2 billion the previous year.
By Nation Reporter
Athi River Mining after-tax profit rose 8 per cent for the year through December 2013.
This rise has been attributed to increased sales in its Tanzanian arm. The cement manufacturer earned Sh1.3 billion compared to Sh1.2 billion the previous year.
The company said in a statement yesterday that the Dar-es-Salaam plant was the main driver of the group’s growth after a year in business.
The management said it expects profits to improve after the Tanga clinker plant gets going in the second half of the year.
The 1.2 million tonne Tanzanian plant is expected to ease continued margin pressure due to use of imported clinker.
“Management expects quick margin improvement following commissioning of the Tanga clinker line,” read the analysis made by Standard Investment Bank.
Turnover increased from Sh11.4 billion in 2012 to Sh14.1 billion. The company projects strong growth this year powered by returns from investments in construction and agricultural sectors.
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