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| TOL Gases |
TOL Gases has recorded revenue growth of 26 per cent this
year, whereby revenue has increased from 6bn/- recorded last year to 7bn/- this year.
The TOL board chairman, Mr Harold Temu, said the growth was
recorded in the wake of comprehensive and strategic initiatives geared to
improve the company’s performance.
Similarly, the firm’s share price has appreciated from 190/-
per share when the new board took over to the present share price of 240/-
per share, Mr Temu said.
“It is encouraging to note that even though the company is
not yet in a positive to pay dividends, shareholders’ wealth has grown by about 2bn/- within that short time,” he said.
According to the board chairman, the profit making trend is
set to continue in the forthcoming years. “Already during the six months to
June 2012, the company recorded 500m/- profit,” he noted.
TOL has invested 6.2bn/-in various projects.
The projects included the expansion of CO2 production
capacity from 5,040 tonnes to over 19,000 tonnes a year.
According to him, the project is expected to strengthen the
company’s performance significantly.
“Company now needs to quickly focus on realizing its planned
entry into Liquefied Petroleum Gas market come 2013 as per the turnaround
strategy,” said Mr Temu.
Addressing the meeting, TOL executive director, Mr Daniel
Warungu, said during the last two years, the company has invested heavily in
hardware and other physical infrastructure to ensure that TOL has the
technological capabilities and capacities able to support its ambitious growth
strategy.
A senior shareholder of TOL, Mr Anold Kileo, expressed his
optimism that the company was now heading to the right direction, because of
strategic plans being installed by the company management.
Source: The Citizen, thecitizen.co.tz, reported from Dar es Salaam
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