One of the most prominent trends amongst corporates in recent years is the growing focus on Corporate Social Investment (CSI). Given the political, economic, social, and environmental crises that the world at large is confronting, corporates have a role to play in contributing to the socio-economic well-being of the communities they operate in. Among the […]
Rwanda: Cimerwa Registers Rwf1 9 Billion in Profit allafrica.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from allafrica.com Daily Mail and Mail on Sunday newspapers.
Editor December 15, 2020 comments off
Globally, 2020 was a year ripe with challenges affecting everything from industries, businesses, and individuals. Rwanda’s cement manufacturer, CIMERWA Plc, experienced its own share of COVID induced challenges. However, in spite of this, it is ending the year on a positive note.
Addressing the media at CIMERWA’s Annual Financial Report Roundtable held at the Kigali Serena Hotel, CIMERWA CFO – John Bugunya shed light on the company’s financial performance.
“The company was able to record strong Earnings before Interest Tax Depreciation and Amortization (EBITDA) of Rwf 16.56 Billion and Profit After Tax (PAT) of Rwf 1.95 Billion. The company’s liquidity position remains strong with the liquidity ratio of 2.07 and cash balances of Rwf 13.3 Billion. This puts the company in an excellent position to meet its obligations and to fund its expansion projects.” Bugunya explained.
Taarifa Rwanda
Published 3 months ago
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Rwanda’s sole cement manufacturer announced on Monday afternoon that it had managed to collect Rwf63.1 billion in revenues despite the effect of Covid-19 pandemic to the economy.
The firm said the revenue growth registered represented a 1% margin.
CIMERWA’s CEO, Albert Sigei, said the company is satisfied with the results because such an achievement is benchmarked against results posted by other firms regionally and locally who are recording negative double digit growth.
“This year has been challenging but we had
to navigate through over the past year we achieved a 1% sales revenue increase and ended the year with a PAT of Rwf 1.95billion,” Sigei said.