29 June 2014

Tanzania Gas Maker Gains Value On Mart

Dar es Salaam — TOL, formerly Tanzania Oxygen Limited, this year has regained a share price of Tsh500 ($0.30) from Tsh250 ($0.15) two years ago.

The company's Director of Finance, Everest Tilafu told East African Business Week, the achievement has come due to good performance for the three consecutive years.

In last two years, the TOL share prices fell to the lowest level of Tsh 250 ($0.15) due to poor performance.

Tilafu said the raise of share price at DSE is being attributed to a three year running profit realization trend from 2011to 2013.

The Director said the company recorded revenue growth of Tsh10.8billion ($6.45 million), equivalent to 13% growth from Tsh9.5billion ($3.7million) in the 2012 financial year.

Again registering a profit after Tax of Tsh998million ($596,364.88) from Tsh952million ($568877.12) made in 2012 financial year being an increase of 5 per cent, performance realized.

According to him, the profit making and the release of audited financial reports at the Annual General Meeting has impressed general public of the real come back of their company posed to be the only one public entity oxygen, carbon dioxide, nitrogen and hospital equipment manufacturers. Of recent the company has been increasing sales to neighbouring markets, including Malawi.

At the Dar es Salaam Stock Exchange, TOL Gasses Ltd is exposed concomitantly with other known country businesses including the Tanzania Breweries Limited (TBL), Tanzania Telecommunications (TTP) and Tanzania Cigarette Company (TCC).

Also Simba Cement, Swissport, Twiga Cement, Dar es Salaam City Bank (DCB), National Microfinance Bank (NMB), Kenya Airways (KA), East African Breweries Limited (EABL), Jumbo Holdings Limited (JHL), Kenya Commercial Bank (KCB) and CRDB Bank.

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