Athi River Mining yesterday reported an after tax profit of Ksh 1,150,498 for the year ended December 31^st 2011. This is a 7% increase in their profits from Ksh 1,075,268 for the same period the previous year.

Group Turnover increased by 37% from Ksh. 5.96 billion in 2010 to Ksh 8.2 billion in 2011. Cement sales increased by 72% on commissioning of increased capacities which came on stream in late 2010. Group Profit before Tax increased to Ksh 1,362 million over the previous year, and net Profit for the year stood at Ksh 1,150 million, giving an Earnings per Share (EPS) of Ksh 11.6.

Operating margins declined by 2% in 2011, mainly due to the rapid increases in cost of electricity, fuel, and imported spares parts, which has been subsequently restored. Total Group assets increased from Ksh 16.5 billion in 2010 to Ksh 20.5 billion in 2011.

The company’s expectations about 2012 are promising, in the past 2 months they have experienced growth in turnover due to increased export sales. The regional demand for cement is expected to keep growing due to the growth of the East African economies.

Read the company’s statement about the results here.