East Africa: Tanzania Cement Plant Posts Negative Results

Dar Es Salaam — The Heidelberg cement group's Tanzania Portland Cement Company Limited (TPCC) in Dar es Salaam is the second cement plant to be hit by low revenues in a series of business performance statements, after it registered a 20% decrease in net profit to Tsh 19.9 billion (US$13.10 million) from Tsh 25.1 billion ($16.50 million) of first half last year.

A financial statement issued in Dar es Salaam last week showed the net profit decreased by 20% mainly because of the reduction in revenues coupled with high depreciation resulting from capitalization of the new production facility launched last year, Jean-Marc Junon, Chairman of the Board said in the statement.

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