Tanga Cement sees net loss widen in 1H21

Tanga Cement sees net loss widen in 1H21
07 October 2021

Tanzania’s Tanga Cement saw its net loss widen to TZS7.8bn (US$3.38m) in the first half of 2021, compared with a TZS5.2bn loss in the year-ago period.

Around TZS2.6bn has been attributed to a major breakdown in clinker production units that saw costs of production surge, according to The Citizen. Board Chairman, Lawrence Masha, noted that due to the breakdown it had to purchase 117,259t of clinker to ensure sufficient cement production.

The increase in the cost of sales took its toll on the company’s revenue for the 1H21, which still advanced to TZS107.15bn from TZS94.32bn.

Published under Cement News