Cement News tagged under: Tanzania Portland Cement
Tanzania Portland Cement reports 9M profit up 6%02 November 2022, Published under Cement NewsTanzanian cement producer Tanzania Portland Cement PLC has posted a six per cent increase in pretax profit in the first nine months of the year as domestic and export cement demand has surged. Pretax profit increased by six per cent YoY to TZS110.53bn (US$47.4m) in the 9M22 from TZS94.82bn in the year-ago period. The company’s cement revenue rose by nine per cent YoY to TZS358.3bn, but the cost of sales of TZS226.2bn considerably impacted its net profit. “The high availability and effic... |
Twiga Cement to expand production capacity19 April 2021, Published under Cement NewsTanzania Portland Cement (Twiga Cement) has announced its intention to invest US$15m in an expansion and rehabilitation programme in 2021, according to the Tanzania Daily News. For the past 10 years, the factory has been producing 1.2Mta of cement, but it has currently increased capacity to about 2Mta. "Twiga Cement is doing well and we are happy for that, they have also thanked the government for better business environment despite the fact that there are small policy challenges which... |
Twiga Cement saw profits rise 25% in 202016 April 2021, Published under Cement NewsTanzania 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 T... |
Twiga Cement to increase cement capacity in Tanzania14 August 2020, Published under Cement NewsTwiga Cement's Head of Commercial Cluster East, South and Central Africa, Yves Mataigne, says the company will invest TZS34bn (US$14.6m) this year and TZS33bn (US$14.1m) in 2021 to support Tanzania's drive for infrastructure projects. "Implementation of the mega projects has made us rethink about our production capacity as we see an opportunity for growth," Mr Mataigne said. Twiga Cement (HeidelbergCement group) has invested TZS105bn over the last five years in modernising its operatio... |
Twiga sees 33% rise in net profit for 1H2022 July 2020, Published under Cement NewsTanzania Portland Cement (Twiga) has reported a 33 per cent YoY increase in net profit to TZS34.94bn (US$15.05m) in the first half of 2020, against TZS26.19bn in the 1H19. "Despite strong competition in the cement manufacturing industry and uncertainties brought about by COVID-19, [we] delivered a strong operational result compared to [last year]," said Hakan Gurdal, chairman. The company also saw a 13 per cent rise in revenue to TZS181.45bn. "[We are] well positioned to meet this growin... |
Tanzania Portland Cement reports increased profits for 201812 June 2019, Published under Cement NewsTanzania 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 check28 August 2018, Published under Cement NewsTanzania'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 production17 August 2018, Published under Cement NewsCement 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 FY1703 April 2018, Published under Cement NewsTanzania 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 emissions08 March 2018, Published under Cement NewsTanzania 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 ... |