Tanzania Portland Cement increases sales and profit in 2020

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Tanzania: Tanzania Portland Cement recorded an increase in turnover of 13% year-on-year to US$170m in 2020 from US$150m in 2019. The Daily News newspaper has reported that the company’s net profit for the year was US$31.9m, up by 25% year-on-year from US$25.4m in 2019. Its sales volumes of cement grew by 6% in 2020. Chair Hakan Gurdal attributed the results to increased cement volumes, level prices and controlled cost.

Gurdal said, “We achieved new records in production, dispatching and cement sales, following a volumes strategy to offset the general price downward trend of the past 10 years.” He added that the company remains ‘deeply involved’ in large infrastructure projects and that “The trend remains strong.” In 2020, national cement demand rose to 5.9Mt

By the end of 2021, Tanzania is expected to have a cement production capacity of 11Mt/yr.

Last modified on 22 June 2021

URL: https://globalcement.com/news/item/12578-tanzania-portland-cement-increases-sales-and-profit-in-2020

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