Tanzania: Tanga Cement’s revenue dropped by 20% year-on-year to US$75m in 2016 from US$94m in 2015 due to competition and lower government spending on infrastructure. However, despite falling net profits it managed to increase its operating earnings before interest, taxation, depreciation and amortisation (EBITDA) to US$17m from US$13m following cost cutting. The cement producer commissioned its second integrated production line in August 2016, increasing its production capacity to 1.25Mt/yr.
Tanga Cement cuts costs to fight falling sales in 2016
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