{"id":34724,"date":"2021-08-12T12:08:49","date_gmt":"2021-08-12T12:08:49","guid":{"rendered":"https:\/\/www.africa-press.net\/tanzania\/?p=34724"},"modified":"2021-08-12T11:15:01","modified_gmt":"2021-08-12T11:15:01","slug":"twiga-cement-delivers-strong-h1-results","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/tanzania\/all-news\/twiga-cement-delivers-strong-h1-results","title":{"rendered":"Twiga cement delivers strong H1 results"},"content":{"rendered":"

Africa-Press<\/a> – Tanzania<\/a>. <\/strong><\/span>TWIGA Cement posted a 30 per cent pre-tax profit increase in the first half of this year despite the industry strong competition and Covid-19 uncertainties.<\/p>\n

The firm listed on the Dar es Salaam Stock Exchange (DSE) posted a pre-tax profit increase of 66.028bn\/- in this year\u2019s first half against 50.63bn\/- in a similar period last year.<\/p>\n

Twiga Chairman Hakan Gurdal said in a statement that both sales volume and revenue increased compared to the year 2020 where revenue increased by 16 per cent compared to the same period in the preceding year.<\/p>\n

\u201cDespite strong competition in the cement manufacturing industry and uncertainties brought about by Covdi-19, [we have] delivered a strong operating result when compared to 2020,\u201d Mr Gurdal said. Twiga\u2019s net profit climbed up by almost 32 per cent to 46.09bn\/- in H1 compared to 34.94bn\/- in H1 last year.<\/p>\n

Twiga cement, the largest in the land, the share price climbed to 3,900\/- yesterday from 2,500\/- at the opening of the year.<\/p>\n

\u201cThe operating performance and the availability of the plant and machinery were good, thus ensuring clinker production level higher in the first quarter than 2020,\u201d Mr Gurdal said.<\/p>\n

The chairman said the cement demand in the country and the East-African region has been growing steadily in recent years. \u201c[Twiga] is well placed to meet this growing demand and will continue to work to maintain its leadership,\u201d the chairman said.<\/p>\n

Data showed that by December 2016, five new manufacturers had set up factories in the country, raising annual installed capacity to 10.8 metric tonnes.<\/p>\n

But the total production in that year was 7.1 million tonnes while annual consumption was at 4.1 million tonnes, with the balance sold to Burundi and the Democratic Republic of the Congo.<\/p>\n

Twiga is the largest producer in the country and followed by Tanga Cement, also listed on DSE, and Dangote Industries Tanzania. The country has some 12 cement factories.<\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Tanzania. TWIGA Cement posted a 30 per cent pre-tax profit increase in the first half of this year despite the industry strong competition and Covid-19 uncertainties. The firm listed on the Dar es Salaam Stock Exchange (DSE) posted a pre-tax profit increase of 66.028bn\/- in this year\u2019s first half against 50.63bn\/- in a […]<\/p>\n","protected":false},"author":84,"featured_media":34723,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[6990,6991,711],"class_list":["post-34724","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press-2","tag-africa-press-tanzania","tag-tanzania"],"yoast_head":"\nTwiga cement delivers strong H1 results - Tanzania<\/title>\n<meta name=\"description\" content=\"TWIGA Cement posted a 30 per cent pre-tax profit increase in the first half of this year despite the industry strong com ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/tanzania\/all-news\/twiga-cement-delivers-strong-h1-results\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Twiga cement delivers strong H1 results\" \/>\n<meta property=\"og:description\" content=\"TWIGA Cement posted a 30 per cent pre-tax profit increase in the first half of this year despite the industry strong com ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/tanzania\/all-news\/twiga-cement-delivers-strong-h1-results\" \/>\n<meta property=\"og:site_name\" content=\"Tanzania\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2021-08-12T12:08:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2021\/08\/img-6115029f8998d.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"750\" \/>\n\t<meta property=\"og:image:height\" content=\"359\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/twiga-cement-delivers-strong-h1-results#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/twiga-cement-delivers-strong-h1-results\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Twiga cement delivers strong H1 results\",\"datePublished\":\"2021-08-12T12:08:49+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/twiga-cement-delivers-strong-h1-results\"},\"wordCount\":320,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/twiga-cement-delivers-strong-h1-results#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2021\/08\/img-6115029f8998d.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Tanzania\",\"tanzania\"],\"articleSection\":[\"all news\",\"Economy\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/tanzania\/all-news\/twiga-cement-delivers-strong-h1-results#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/twiga-cement-delivers-strong-h1-results\",\"url\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/twiga-cement-delivers-strong-h1-results\",\"name\":\"Twiga cement delivers strong H1 results - 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