Cement producer sees sales up

Cement producer sees sales up

TPCC Managing Director, Mr Pascal Lesoinne, said during the company’s Annual General Meeting that net profit after taxation jumped to 50.6bn/- last year compared to 50.2bn/- in 2010.

“Despite problems related to power shortage and a tough business environment created by high inflation and the volatility of the shilling against world major currencies, sales volumes and net profit edged north,” he said.

The cement firm’s positive performance is also translated into increased shareholders dividend to 32.38bn/- (180/- per share) compared to 25.1bn/- (139.51/- per share) including an interim dividend of 7.2bn/- (40/- per share) paid in October last year. He said the proposed dividend is an increase of 29 per cent representing 64 per cent of the net result of the year. 

“The dividend proposal took into account the financial situation of the company and future needs for implementing replacement and improvement of projects,” he added. Although turnover amounted to 217.26bn/-, a 9 per cent increase compared to only 199.60bn/- of the preceding period, the CEO said higher imports of clinker and frequent breakdowns of machinery resulting from erratic power supply led to increased production costs. 

“After completing the upgrading of clinker kiln number three this month, TPCC with its integrated cement capacity of 1.4 million tonnes per year, will be best positioned to supply the growing demand for its high quality cement,” said Mr Jean-Marc Junon, TPCC Chairman. 

He further said the firm has continued to observe its significant contribution on the economy through taxes that has increased to 22.2bn/- from 21.7bn/- the previous year. The outstanding performance was also witnessed in the capital markets with its share price appreciating by 15 per cent, opening at 1,800/- and closing at 2,080/- per stock.

The market capitalisation reached 374bn/-, which is 15 per cent up compared to the year before. Despite the low growth market, TPCC managed to consolidate its traditional outlets of Dar es Salaam, Central corridor and the Lake Zone. Also significance presence was established in the northern areas of Moshi and Arusha.

125 billion cubic feet  natural gas produced at Mnazi Bay

MORE than 125 billion cubic feet of natural gas ...

Author: DAILY NEWS Reporter

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