Tanzania Portland Cement posts 6% net profit

Tanzania Portland Cement posts 6% net profit
Published: 16 March 2011

Tanzania Portland Cement Company (TPCC) has posted a net profit growth of six per cent, despite key challenges and critical issues that faced the domestic cement industry last year.

The company outperformed its own profitability targets and recorded a net profit of TZS32.2bn (US$21.4m) last year compared to TZS30.4bn recorded in 2009.

Last year Tanzanian producers were affected by the removal of import duties and the impact of increased competition on the back of low-cost imports. Producers also felt the effects of a deteriorating power supplies.