Cement News tagged under: Tanzania
Dangote reports 60% rise in sales in 1H1629 July 2016, Published under Cement NewsDangote Cement announced its unaudited results for the six months ended 30 June 2016. The company saw its revenue grow by 20.6 per cent to NGN292.2bn (US$925m) but lower selling prices, higher fuel costs and the impact of Pan-African plants in ramp-up phase saw its EBITDA down 10.2 per cent to NGN132.5bn. The EBITDA margin reached 45.4 per cent. Net debt stood at NGN293.3bn, giving a net gearing of 43.1 per cent. In terms of group cement volumes, Dangote sold 59.5 per cent more cement YoY... |
Tanzania: Tanga Cement to double clinker capacity31 May 2016, Published under Cement NewsThe Tanga Cement Company Limited (TCCL) has announced plans to raise output to 1.2Mt once the new kiln line is operational at its plant in northeastern Tanzania, East African Business Week reports. Construction of the new kiln is to begin shortly and will raise capacity at the Tanga plant from its current level of 0.5Mta. Grinding capacity is already thought to be 1.2Mta, meaning that the plant has had to rely on clinker imports in the past. Speaking at its annual general meeting, Chai... |
Tanzania: Twiga dividends increase 15%27 May 2016, Published under Cement NewsTwiga 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... |
Tanzania: Tanga Cement seeks to cut costs as profits fall17 May 2016, Published under Cement NewsTanga Cement has said that it will concentrate on cutting costs in an effort to counteract falling revenues, the Citizen reports. The company, whose profit fell to TZS8.24bn (US$3.8m) in 2015, held its annual general meeting this week. Speaking at the event, Board Chairman, Lau Masha, said: "Improving operational efficiency and containing production costs continues to be a major focus for the company... we have spent a lot of money in the last few years so as to ultimately reduce costs an... |
Tanzania: Tanga Cement Co looks to cut costs with rail deal19 April 2016, Published under Cement NewsThe Tanga Cement Company has signed a deal with Tanzania Railway Ltd to transport 35,000t of cement a month to Mwanza and Kigoma. The deal would see the state rail company ship 15,000t to Mwanza on Lake Victoria and 20,000t to Kigoma on Lake Tanganyika. Both destinations are remote from cement producing regions and as a consequence currently pay high prices for cement. Tanzania’s Citizen newspaper reports that cement prices in the two cities are between US$7.76 and US$8.76 per bag. Thi... |
TPCC profits rise, dividend announced18 April 2016, Published under Cement NewsTanzania Portland Cement Company (TPCC) profit increased by three per cent to TZS56.2bn (US$25.72m) in 2015, despite depreciation of the shilling that had a negative impact on fuel, spares and quarry services, according to a report in the Tanzania Daily News. TPPC, trading on the Dar es Salaam Stock Exchange (DSE) as Twiga cement, said profits rose due to stable domestic cement demand and an increase in production capacity last year which pushed up sales volumes by 22 per cent. The compan... |
Tanzania: Tanga Cement suffers profit decline12 April 2016, Published under Cement NewsTanga Cement Co Ltd's 2015 profit fell to TZS8.24bn (US$3.774m) compared to TZS28.40bn (US$13m) in 2014, according to the national paper the Daily News. The audited financial results state that the group experienced a decline in sales revenue of 9.9 per cent to TZS209.11bn compared to TZS232.10bn in the preceding year. The fall was mainly attributed to the increased competition from new entrants to the market which put downward pressure on sales prices and volumes. In addition, at the ... |
Tanzania: Tanga Cement seal rail distribution deal24 March 2016, Published under Cement NewsTanga Cement Plc and Tanzania Railways Ltd (TRL) signed a Memorandum of Understanding (MoU) yesterday to secure cement delivery by rail to Tanga customers in Kigoma and Mwanza regions of Tanzania. The contract will see TRL transport more than 35,000tpm of cement along its lines, which is equivalent to one third of Tanga Cement’s monthly production, according The Citizen paper. On the day of the first train delivery Mr Reinhardt Swart, managing director of Tanga Cement, said the agreemen... |
Tanzania: Tanga in talks for increased rail usage08 March 2016, Published under Cement NewsTanga Cement Co Ltd (TCCL) is finalising discussions with the government of Tanzania to use the Tanga-Moshi railway to Arusha for transportation of its products, according to Prof Makame Mbarawa, Minister for Works, Transport and Communication. TCCL has pledged to use the railway line to transport 35,000tpm. The move is intended to minimise damage to the country’s road network. Masanja Kadogosa, deputy director general at Tanzania Railway Ltd, reported that in 2014-15 TCCL dispatched 44,00... |
Dangote Cement28 October 2015, Published under Cement NewsDangote has announced an increase in sales of 18 per cent to NGN366bn in 9M15, compared to the same period last year. Net income grew over the period from NGN141bn to NGN158bn, while profit before tax expanded by 8.4 per cent to NGN166.9bn, up from NGN154bn in 9M14. Earlier this month Dangote Industries announced plans to build 18 new cement plants across Africa and Asia. According to the company, the move hopes to transform Africa into an export continent rather than depending on imports... |