Cement News tagged under: Tanga Cement

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Tanga Cement sees 1H sales slip 1%, net loss widens

30 October 2019, Published under Cement News

Tanzania-based Tanga Cement saw its first-half sales edge down by one per cent YoY to TZS97.63bn (US$42.4m) in 2019 from TZS98.88bn in the1H18, according to the company’s unaudited results for the six months ended 30 June 2019. Gross profit fell to TZS24.98bn in the 1H19 from TZS25.56bn in the year-ago semester while operating profit declined to TZS1.17bn from TZS6.77bn over the same period. Net loss widened from TZS1.79bn in the first six months of 2018 to TZS10.23bn between January-June...

Tanga Cement sees 25% increase in revenue for 2018

20 August 2019, Published under Cement News

Tanzania’s Tanga Cement reported a 25 per cent YoY increase in revenue to TZS215bn (US$93.56m) for 2018, up from TZS172bn in the previous year. Gross profit rose 91 per cent to TZS56.2bn from TZS29.4bn. EBITDA surged 304 per cent to TZS34.4bn from TZS8.5bn, on the back of improved sales volumes, margins and operational efficiency, according to its annual report. Operating profit recovered from a TZS10.99bn loss in 2017 to a TZS14.9bn profit. "Depreciation and financing costs related to c...

Tanga Cement reduces loss

12 September 2018, Published under Cement News

Tanga Cement reported a net loss after tax of TZS1.8bn (US$ 788,135) for the first half of 2018, a marked improvement of its business results when compared to 1H17 when losses reached TZS14.6bn. The company’s operating profit for the six-month period reached TZS6.7bn, an advance when compared with the TZS4.3bn operating loss for the equivalent period in 2017. “Our interim half year results will be published in the coming two weeks….They will show you a clear picture of how our turnaroun...

Tanga Cement wins awards from the NBAA

12 December 2017, Published under Cement News

Tanga Cement has won an award for the ‘Best Presented Financial Statements’ from the National Board of Accountants and Auditors Board (NBAA), reports All Africa. This is the second year running that the company has received the award, which was presented at the NBAA gala dinner in Dar es Salaam. In addition, Tanga Cement won in the manufacturing category. "As a leading producer of cement, our most top priority is on quality. We put quality above the rest... and these awards can bear witness...

Tanga confident on improving market conditions

09 May 2017, Published under Cement News

Tanga Cement has said it is upbeat that the market challenges faced last year are coming to an end thanks to a growing domestic economy and the launch of mega-infrastructure projects. The company's Board Chairman, Lawrence Masha, told the 'Daily News'  at the sidelines of the company’s AGM that it is  optimistic that cement sales would rebound after a slowdown caused by intense competition. Last year, revenue dropped by 20 per cent in 2016 to to TZS166.9bn (US$74.6m) due to heightene...

Tanzania: workshop looks to attract more women to the cement sector

12 December 2016, Published under Cement News

Tanga Cement PLC Communications and External Affairs Manager, Mtanga Noor, said women can be industry leaders in the cement sector. She was speaking in regard to the Tanzania Women Chamber of Commerce (TWCC) workshop on the role of women in the fifth-phase government industrialisation drive campaign that was held recently in Dar es Salaam. Ms Mtanga said that they spent TZS8m (US$3666) to sponsor the workshop but they want to see women integrating in brick making or producing as path in...

Tanzania: Tanga Cement wins finance award

06 December 2016, Published under Cement News

Tanga Cement Co Ltd (TCCL) has won the award for the best presented financial statement for 2015 from the National Board of Accountants and Auditors (NBAA). The NBAA award seeks to promote integrated reporting through enhanced accountability, transparency and integrity in compliance with appropriate financial reporting framework. The awards are presented annually by the board to various public and private institutions and companies which have consistently maintained the required financia...

Tanzania: Tanga Cement launches new all-purpose cement

21 September 2016, Published under Cement News

Tanga Cement Plc (AfriSam Group) has set its eyes on capturing more of the residential and infrastructure construction market in Tanzania. Its new Mkombozi all-purpose 32.5N cement was launched in Dar es Salaam yesterday, reports the Citizen. "This is all-purpose cement meant for various construction activities," said Leslie Massawe, Tanga Cement's sales manager. "It is a step by the company to approach Tanzanians with an innovative product of high quality and affordable to the people."...

Tanzania: cement producers optimistic for future

25 August 2016, Published under Cement News

In the face of overcapacity and cheap imports in the local market, cement producers in Tanzania remain optimistic about future prospects, which seem more positive in light of a continuing construction boom. Tanzania has an installed production capacity of 8.3Mta and a current demand of only 4.3Mta, but major infrastructure projects are expected to drive business and boost growth. Local producer Tanga Cement reported a decline in profit for 2015 compared to the previous year as a result of...

Tanzania: Minister invites cement industry to voice its concerns

17 August 2016, Published under Cement News

Tanzanian cement producers who have been stepping up the pressure on the new government to respond to the amounts of cheap cement imports have been given some encouragement to present their complaints. The minister for Industry, Trade and Investment, Charles Mwijage, advised local cement producers to meet with the government to sort out constraints in doing businesses. “Let's reason together so that we can build our case that I can defend to the government,” Mr Mwijage said at the inau...