Tanzania: Tanga Cement’s earnings have fallen significantly due to low cement prices. It operating earnings before interest, taxation, depreciation and amortisation (EBITDA) fell by 72% year-on-year to US$2.26m in the first half of 2017. However, its sales revenue grew by 2% to US$35m from US$34.2m.The cement producer cut its prices in response to competition, raising its sales volumes and increasing its market share.
Tanga Cement’s earnings tumble due to low prices in first half of 2017
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