Portland Cement loss up to Sh1.6 billion in six months

Cement maker East African Portland Cement Company (EAPCC) has sunk further into troubled waters after it booked a Sh1.6 billion loss for the six months to December last year, compared to the Sh1.3 billion loss it recorded in the same period in 2018.

The firm’s revenues rose by eight per cent to Sh1.48 billion from Sh1.37 billion recorded in 2018 in a period that the company said was marked by low selling prices. The company’s operational losses, however, reduced by 2.1 per cent to Sh1.38 billion from the previous Sh1.41 billion.