Rate cap imemaliza mortgage business

Group turnover decrease
-Lower sales / decreased market
-Tightening of credit
-Prolonged election
-Drought
-Delayed infrastructure projects
-Flat domestic and export market in Ug

Operating profit halved:
-Lower revenue
-Higher energy costs

PBT halved from 8.3Bn to 4.1Bn
-Lower operating profit
-Lower cash deposit at lower rates
-Lower foreign gains
-Impairment of assets totaling Ksh. 243 million

Cash decreased to Ksh. 2.0Bn due to:
-Payments for the capacity expansion in both KE and Ug
-Lower cash from operations
-Dividend cash out of Ksh. 3.1Bn

The group has taken tax provisions in Uganda over tax assessments dispute.

It'll reach there on a soft landing.

A closer look in the market, Wanjiku hardly uses bamburi reason number one baobab is expensive. The likes of mombasa cement & simba have taken over wanjiku.

Larfarge Holcim is able to "lobby" well to be given govt tenders such as SGR supply and ofcourse they obviously rudisha mkono to sustain continuity. This one source of business is not suffficient.

Lets not forget there is no property developer is going to buy a bag of cement with a difference of 50bob+ per bag compared to other brands.

Atasema "simiti ni simiti". Unless they change, the biz is going to be gloomy for them