Tanga profit up despite competition

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Tanzania: Tanga Cement has seen its net operating profit rise by 55% in the first six months of 2016, despite intense competition from other cement companies and cheap imported products from abroad. The company more than doubled its clinker production, from 0.45Mt to 1.23Mt, after commissioning the second clinker line at its plant.

Lawrence Masha, Chairman of the Board, said, "In this year, the business is focusing on profitability, driven by operational efficiency and overall business effectiveness. This will enable the company to absorb the increase in production related costs, as far as possible, in order to remain competitive in challenging market conditions.”

Masha said the cement sector is witnessing fierce competition due to the new market entrants. He said imports of cheap cement from companies that enjoy tax benefits in their home countries further erode the local market and are causing significant injury to local producers.

Last modified on 17 August 2016

URL: https://www.globalcement.com/news/item/5185-tanga-profit-up-despite-competition

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