Tanzania Portland’s profits go up by 25 per cent
Tanzania Portland Cement Company’s revenue went up by 16 per cent last year, while the net profit increased by 25 per cent.
Total revenue was Tsh80.2 billion (US$76.3m), up from last year’s Tsh69bn ($65.7m), while net profit was Tsh19.5 billion (US$18.6m), up from Tsh15.6 billion ($14.9 million) in 2005.
A Tsh28 ($0.03) dividend for every share held has been proposed.
The company went public last year.
Company secretary Elieneza Amon said last week that the company successfully defended its market position as the dominant actor in the Dar es Salaam region despite adverse factors like drought and power shortage.
"Managing a situation with power shedding, poor transport infrastructure and depreciating currency has been a challenge," he said.
The company will invest more than $100m in a new factory to meet increasing cement demand.
The project officially started in March this year, and new production capacity will come on line in stages from 2008 to 2009.
The current production capacity is approximately 670,000tpa of cement.
The expansion project will make the company the leading cement producer in Tanzania.
Published under Cement News
