Tanzania: Tanga Cement has issued a profit warning for the first half of 2017. It expects its operating profit before interest and tax for the six months that ended on 30 June 2017 to be 125 - 135% lower than that achieved in the same period in 2016. The cement producer blamed the competitive local market leading to lower prices. It also attributed the profit loss to new competitors using imported clinker.
Tanga Cement warns of profit drop in first half of 2017
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