Nairobi, April 28 -- Bamburi Cement net profit for the year ended December 2022 has dropped by 86.9 percent to Sh181 million on the back of reduced sales and increased costs.

The Nairobi Securities Exchange-listed firm's net earnings retreated from Sh1.38 billion posted in the previous year as sales dropped by six percent to Sh38.99 billion.

Total operating costs stood at Sh38 billion from Sh39.2 billion, nearly matching the sales for the period.

Bamburi said the slowdown in economic growth cut cement sales while the heightened inflationary pressures increased power, fuel, transport and raw materials costs.

"The soaring inflation impacted building materials cost, thereby adversely impacting cement demand. The conflict in Eastern Europ...