AfricaPress-Tanzania: TANZANIA Portland Cement Public Company Limited (TPC-Plc) has posted outstanding performance in terms of revenue and volume growth in the year ending 2019 compared to the preceding year contributed largely by the efforts to increase production of clinker.
The cement company trading on the Dar es Salaam Stock Exchange (DSE) as Twiga said in the 2019 financial statement that revenue and sales volume increased by 6 percent and operating profit rose by 9 percent despite the strong competition in the cement manufacturing industry.
The company said, “Efforts made to increase the production of clinker combined with the overall machine availability, good customer service, selling of high-quality products and maintaining strong customer relationship ensured the improved performance and results in the period under review.”
According to the statement, profit for the year increased to 59.70bn/- from 56.86bn/- posted on the preceding period.
As the cement demand in the country and in the East African region has been growing steadily in recent years with TPC Plc well placed to meet the rising demand while continuing to work maintain its market leadership and position.
The board of directors proposed a dividend for 2019 of 290 per share which is the same as the rate that was paid in the year 2018.
TPC Plc remains a major contributor to the Tanzanian economy and society through government taxes, technology improvements, new investments, compliance with international business standards, community development programmes, fair employment and by leading the industry not only in performance but also and most important in building the nation.
During the reference period, the cement company paid taxes on income amounting to 26.17bn/- compared to 24.87bn/- in the preceding year.
Furthermore, the cement firm is fully committed towards sustainability and Social Corporate Responsibility and continues taking all necessary measures to improve its performance in aspects related to health and safety, environment protection, good governance, and human rights avenues.
