Listed cement maker Bamburi has cautioned investors that its profit for the year ended December last year will plunge by a quarter compared to the earnings booked in 2022, citing a one-off settlement during the divestiture of its Ugandan subsidiary.
In the notice published on Tuesday, Bamburi said its projected net earnings for 2023 will be lower by at least 25 percent of the Sh181 million it posted in 2022. This means earnings will not surpass Sh135.8 million, which is 75 percent of the net income realised in 2022.
