East African Portland sinks into Sh1.4b loss

East African Portland Cement Company (File: Standard)

NAIROBI, KENYA: East African Portland Cement has recoded Sh1.4 billion loss for year ended June 30.

The company which recorded a net profit of Sh 4.1 billion in 2016 blames low sales and excess supply on the loss.

The company also realiSed a decline in revenue of Sh6.93 billion compared to Sh8.87 billion a year ago (2016). The loss before tax in 2017 stands at Sh 1.71 billion compared to Sh3.73 billion profit in 2016.

The directors have not recommended payment of final dividend.