Bamburi Cement has secured lucrative government contracts for the supply of cement for key infrastructure projects in the region as part of efforts to staying afloat in a competitive cement market that has seen its net profit drop by 80 percent in five years, with shareholders losing over Ksh3 billion ($27.52 million) in dividends during the same period.
The regional cement maker which is listed on the Nairobi Securities Exchange is fending off competition through cost-cutting measures, introduction of low cost construction materials and bidding for mega government cement supply contracts to shore up its thinning revenues that have seen shareholders’ dividends per share drop to as low as Ksh3 ($0.02) last year from a Ksh12 ($0.11) in 2016.
