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News Tanga Cement anticipates return to profitability in 2021

Tanga Cement anticipates return to profitability in 2021

Written by Global Cement staff 04 April 2022
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Tanzania: Tanga Cement has advised investors that it expects a ‘significant improvement’ in its results to a profit before tax in 2021, compared to a loss in 2020. The Daily News newspaper has reported that strong sales during the year contributed to the forecast result, along with a drop in finance costs due to a restructuring of debt facilities.

Tanga Cement said “The improved performance is a result of Tanga Cement’s initiative to optimise the sales, logistics and distribution, as well as its continued cost optimisation initiative.” It added “The company has been able to achieve this despite the challenging global economic and operating environment conditions.”

Last modified on 06 April 2022
Published in Global Cement News
Tagged under
  • Tanzania
  • Sales
  • market
  • Forecast
  • Debts
  • optimisation
  • logisitics
  • costs
  • economy
  • GCW551

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