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News Ambrian forecasts 25% sales growth in 2017 for Mozambique operations

Ambrian forecasts 25% sales growth in 2017 for Mozambique operations

Written by Global Cement staff 12 December 2017
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Mozambique: Ambrian, the UK-based owner of the Cimentos da Beria grinding plant, forecasts that its sales will rise by 25% year-on-year in 2017 from 2016. The prediction follows a poor third quarter where sales volumes fell by 16% and the company described the economic conditions in the country over the past year as ‘challenging.’ The group added that it has seen cement prices improve year-on-year and that the plant in Beira is now generating positive earnings before interest, taxation, depreciation and amortisation (EBITDA).

However, Ambrian also reported that it is facing ‘urgent’ short-term liquidity issues owing to difficulties in moving cash resources held within the group to the company. It is currently trying to secure short term financing and a longer-term strategic partnership and investment for the group as a whole to allow it to reduce its debt and develop its business in Mozambique.

Last modified on 13 December 2017
Published in Global Cement News
Tagged under
  • Mozambique
  • Cimentos da Beria
  • Sales
  • Forecast
  • Ambrian
  • grinding plant
  • GCW332

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