Tanzania: Tanga Cement 1H16 profits rise 55%

Tanzania: Tanga Cement 1H16 profits rise 55%
12 August 2016

Tanga Cement has realised 55 per cent increase in net operating profit for the past six months despite strong competition from other cement companies as well as cheap cement and clinker imports.

Board Chairman, Lawrence Masha, said the company has more than doubled clinker production from 0.45Mta to 1.23Mta. The output increase follows the commissioning of the second kiln at the plant, which eliminated the purchase of import clinker. 

"In this year, the business is focussing on profitability driven by operational efficiency and overall business effectiveness. This will enable the company to absorb the increase in production related costs, as far as possible, in order to remain competitive in challenging market conditions," said Mr Masha in the statement.

Mr Masha added that the company was continuing implementing its strategies that link customers and other business partners. He said the company has already signed an agreement with Tanzania Railway Limited (TRL) to transport cement to Kigoma and Mwanza.

Published under Cement News