“Where the industry is ready to face
competition, it is hoped that there will be fair play in the market,”
TPCC said in the statement.
During the period under review, the
company’s turnover increased 15 per cent to reach 249.11bn/- compared to
217.25bn/- recorded in the year before.
The cost of sales was pushed up
by double digit high inflation rates and energy tariffs rising to
126.7bn/- compared to 117.7bn/- registered in the year ending 2011.
However, in the year under review, the shilling remained relatively
stable compared with the major trading world currencies depreciating by
less than 1 per cent particularly against the US dollar.
The TPCC statement stated further that
after completion the upgrade of one of old kilns, it will be positioned
to supply the growing demand for high quality cement.
The TPCC board has
also approved further expansion project in a new cement mill. The new
mill which is expected to be completed mid next year will make the
cement factory the biggest producer in the sub region.
The company will also this year enter
into a new business line by producing aggregates for the growing
construction sector. In the meantime, the Board of Directors proposed a
dividend of 185/- per share in the year under review, indicating a 2.8
per cent increase compared to only 180/- offered in the previous period.
Source: The Daily News, www.dailynews.co.tz, reported from Dar es Salaam
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