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2 Pages<12
EA Portland Cement HY19
FUNKY
#21 Posted : Friday, August 09, 2019 5:33:51 PM
Rank: Veteran


Joined: 4/30/2010
Posts: 1,634
Impunity
#22 Posted : Saturday, August 10, 2019 2:27:12 AM
Rank: Elder


Joined: 3/2/2009
Posts: 26,299
Location: Masada
FUNKY wrote:
https://www.nation.co.ke/news/Portland-Cement-stops-move-to-sack-staff/1056-5229756-view-asAMP-sv8bun/index.html?__twitter_impression=true


Confused!
Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.

Impunity
#23 Posted : Saturday, August 10, 2019 2:29:12 AM
Rank: Elder


Joined: 3/2/2009
Posts: 26,299
Location: Masada
nairobby wrote:
Ericsson wrote:
East Africa Portland cement declares all jobs redundant as it undertakes a restructuring to reverse a daily loss position of ksh.8 million. Payment will be made at points of exit and employees are encouraged to reapply for reconfigured positions


This is what KQ should doLaughing out loudly


Watch and learn!

Laughing out loudly Laughing out loudly Laughing out loudly
Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.

VituVingiSana
#24 Posted : Saturday, August 10, 2019 8:18:54 PM
Rank: Chief


Joined: 1/3/2007
Posts: 17,437
Location: Nairobi
Impunity wrote:
FUNKY wrote:
https://www.nation.co.ke/news/Portland-Cement-stops-move-to-sack-staff/1056-5229756-view-asAMP-sv8bun/index.html?__twitter_impression=true


Confused!
Not quite. The right thing to do is to cease trading BUT GoK will insist it stays open. Optics. Not boarding EAPCC even with all the assets it has.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
obiero
#25 Posted : Thursday, August 15, 2019 7:42:43 PM
Rank: Elder


Joined: 6/23/2009
Posts: 12,878
Location: nairobi
VituVingiSana wrote:
Impunity wrote:
FUNKY wrote:
https://www.nation.co.ke/news/Portland-Cement-stops-move-to-sack-staff/1056-5229756-view-asAMP-sv8bun/index.html?__twitter_impression=true


Confused!
Not quite. The right thing to do is to cease trading BUT GoK will insist it stays open. Optics. Not boarding EAPCC even with all the assets it has.

A dangerous firm in a crumbling sector
COOP 5,500 ABP12.6; HF 30,000 ABP 5.90; KCB 7,500 ABP 36; KQ 414,100 ABP 7.92
sparkly
#26 Posted : Friday, August 16, 2019 6:55:28 AM
Rank: Elder


Joined: 9/23/2009
Posts: 7,959
Location: Enk are Nyirobi
VituVingiSana wrote:
Impunity wrote:
FUNKY wrote:
https://www.nation.co.ke/news/Portland-Cement-stops-move-to-sack-staff/1056-5229756-view-asAMP-sv8bun/index.html?__twitter_impression=true


Confused!
Not quite. The right thing to do is to cease trading BUT GoK will insist it stays open. Optics. Not boarding EAPCC even with all the assets it has.


They don't even have cash to pay off the redundant staff
Life is short. Live passionately.
Ericsson
#27 Posted : Saturday, February 27, 2021 9:03:53 AM
Rank: Elder


Joined: 12/4/2009
Posts: 9,523
Location: NAIROBI
https://kenyanwallstreet...ion-half-year-net-loss/

Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ericsson
#28 Posted : Sunday, February 28, 2021 1:22:35 PM
Rank: Elder


Joined: 12/4/2009
Posts: 9,523
Location: NAIROBI
Ericsson wrote:
https://kenyanwallstreet.com/portland-cement-posts-ksh1-billion-half-year-net-loss/



Listed cement manufacture, East African Portland Cement Plc, has posted a KSh1.035 billion net loss for the half-year period that ended on December 31, 2020, after a challenging period that saw a significant drop in activity in the construction sector.

The half-year net loss was a 34% improvement from the KSh1.575 billion loss posted in the same half-year period in 2019.

A slow down in the real estate and construction industry saw EAPC’s half year revenue fall by 6.3% to KSh 1.39 billion from KSh1.48 billion a year ago.

The company managed to lower its administrative expenses by 50% to KSh540.5 million, from KSh1.075 billion a year earlier, by realigning the manpower cost to the current productivity level.
In the financial report, East African Portland Cement said that “it is at the end of terminating its corporate loan facility to eliminate the high finance costs through a balance sheet restructuring programme..” The company expects the restructuring programme to yield adequate cash inflows to support its working capital needs and to fund a plant refurbishment needed “to attain a competitive cost of production”.
The firm’s total assets fell to KSh34.6 billion at the end of the half year period, compared to KSh35.2 billion six months earlier. Its total liabilities went up by KSh418 million in the six months period, to KSh16.84 billion from KSh16.42 billion at the end of June 2020.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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