“The Board wishes to inform shareholders of the Company, potential investors, and the general public that based on the forecasted 2022 financial performance of the Company currently at the Board’s disposal, the projected net earnings for the financial year 2022 will be lower than net earnings reported in the financial year 2021 by at least 25 per cent,” the firm said in a statement.

The announcement was made pursuant to Paragraph G.05(1)(f) and (2) of the Fifth Schedule of the Capital Markets (Securities) (Public Offers, Listing and Disclosures) Regulations, 2002 and for the information of investors and the general public.

The firm reassured shareholders, potential investors, and the general public that it will register improved performance and profitability in the future, driven by the expected recovery of the economy and an improvement in input costs.

Bamburi posted a profit of Sh1.4 billion for the year ended December 2021.

By Fred Azelwa.