Cement News tagged under: Tanzania Portland Cement

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Tanzania Portland Cement reports increased profits for 2018

12 June 2019, Published under Cement News

Tanzania Portland Cement (TPC PLC), also known as Twiga Cement, recorded a 28 per cent YoY increase in operating profit for 2018, rising to TZS80.06bn (US$34.8m) from TZS62.67bn. The growth in profit has been attributed to a 28 per cent increase in revenue and higher clinker production, despite that selling and administrative expenses were also up nine per cent YoY. "2018 was also critical to consolidate the processes and the organisation at country level, but also a good opportunity for T...

Tanzania's Government says super-dealers must be kept in check

28 August 2018, Published under Cement News

Tanzania's Government has put out a strong message to the country's cement producers that their licenses will be revoked if they do not keep their super-dealer's price rises in check. Unwarranted price hikes are a feature of the market that the government is now seeking to stamp out. Mr Charles Mwiijage, trade and investment minister said, recent price hikes were the work of distributors who buy in bulk from super-dealers. The super-dealers are the middlemen who buy directly from the factor...

Cement prices rise in Tanzania as Twiga Cement suspends production

17 August 2018, Published under Cement News

Cement buyers in Tanzania are finding it difficult to buy adequate supplies of cement since Tanzania Portland Cement Ltd (Twiga Cement) suspended production on technical grounds. In July the price for a 50kg bag of cement was US$5.60 but is reported to have risen to US$8.70 (TZS TZS20,000, despite the fact Tanzania has 12 cement factories which produce approximately 7.1Mta. Cement buyers are reported to be turning to Kenya for cheaper imports of cement, according to KTN News.

Tanzania Portland Cement's profits fall to TZS35.5bn in FY17

03 April 2018, Published under Cement News

Tanzania Portland Cement Company Ltd (TPCC), also known as Twiga Cement, recorded a net profit of TZS35.5bn (US$15.6m) last year, lower than TZS39.8bn (US$17.6m) recorded in 2016.

 According to unaudited financial results for the year ending December 2017, the fall of net profit was a result of increase income tax, decrease in price and sale costs.

 Income tax nearly doubled to TZS30bn in 2017 from TZS17.6bn in 2016, while costs of sale also went up to TZS184bn from TZS170bn in 2016. ...

Tanzania Portland Cement given ultimatum over dust emissions

08 March 2018, Published under Cement News

Tanzania Portland Cement Company Ltd (TPCCL) has been issued a two-month ultimatum from the government to improve its dust control or face a ban. The Deputy Minister of State in the Vice President's Office (Union and Environment), Alphaxard Kangi Lugola, said local residents in Dar es Salaam faced health concerns due to the dust emissions from the plant. "Having listened from both sides, I am now convinced that the dust problem is real. I am, therefore giving a two-month ultimatum for the ...

Tanzania is the latest price-pressured African market

22 September 2017, Published under Cement News

While South Africa's cement market is wrapped up in merger talk and oversupply, and Ghana's cement industry is crying out for protection against low imports, Tanzania is the latest African country to find that the bustle for greater market share is pushing prices down to unsustainable levels. Tanzania's price war Tanzanian cement producers are facing a sudden collapse in profitability as cement prices are falling in an increasingly competitive market. Heidelberg-owned Tanzania ...

Tanzania Portland Cement Co posts 45.6% profit fall in 1H17

01 September 2017, Published under Cement News

Tanzania Portland Cement Company (TPCC), part of the HeidelbergCement group, posted a 45.6 per cent drop in first-half profit after increased competition forced down local cement prices. TPCC reported net profit of TZS12.35bn (U$5.5m), down from TZS22.71bn a year ago. The producer's revenue of TZS119bn was down 16 per cent YoY, Chairman Hakan Gurdal said in a statement. Mr Gurdal added that the decline was mainly because of the lower prices in an increasingly competitive market. Mr Gu...

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...

Tanzania: Twiga dividends increase 15%

27 May 2016, Published under Cement News

Twiga Cement announced at its Annual General Meeting held in Dar es Salaam yesterday that the dividend had risen from TZS267 (US$0.12) in 2014 to TZS306 in 2015. This increase is a result of profits going up to TZS56.2bn despite depreciation of the shilling, which had an impact on both fuel and quarry services. Alfonso Rodriguez, Twiga Cement managing director, said that the company saw 2015 as a year for consolidation, with particular focus on cost reduction and management control. Mr...