Mombasa Cement has dislodged East Africa Portland Cement Co (EAPCC) from the second position in Kenya with a market share of 15.8%, while EAPCC has dropped to third place with a market share of 15.1%.
Mombasa Cement’s Nyumba brand just lies behind LafargeHiolcim’s Bamburi Cement, which dominates the sector with a 32.6% market share, according to Construction Kenya.The latest round of company results has seen both EAPCC and ARM Cement hit by falling revenues and net losses. EAPCC disclosed a net loss of KES969.6m in the six months to December 2017 with revenues falling by KES660m (US$6.5m) to KES3bn (US$29.6m).
“Revenue declined by 18% due to slow market uptake on account of prolonged political activity which dampened investment decisions and thus slowed down economic activities,” EAPCC said.Meanwhile, ARM Cement, which posted a KES1.4bn (US$13.8m) operating loss in the first half of 2017 on reduced sales during the period.
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