Twiga Cement saw profits rise 25% in 2020

Twiga Cement saw profits rise 25% in 2020
16 April 2021

Tanzania Portland Cement (Twiga Cement) saw its pretax profit rise 25 per cent YoY to TZS107.42bn (US$46.3m) in 2020, against TZS85.87bn in the previous year.

The company’s turnover and sales volumes also increased 13 and six per cent, respectively, during the year. "The operating performance of the plant and availability of the machinery was good, ensuring clinker production reached record levels," said Hakan Gurdal, chairman.

Mr Gurdal said the future looks bright as cement demand in Tanzania and in the east African region has been growing steadily in recent years. "Twiga is well placed to meet this growing demand and will continue to work to maintain its market leadership and position," he said.

Published under Cement News