Tanzania Portland Cement Company Limited (TPCC) significantly improved its business performance in 2014 and strengthened its brand image through quality and service delivery.
The Tanzanian economy grew at a pace of 7% in 2014, in line with positive trend previous years. The cement market grew at the same rate.
During the year, TPCC recorded an increase in sales volume of 15% versus 2013 as a result of better production efficiency, commissioning of a new cement mill in the last quarter, recruitment of new distributors and re-introduction of TWIGA extra in the production mix. Revenues increased to TZS 29.5 bn compared to previous year (+13.9%). This increase in revenues, coupled with efficient cost management, resulted in an increase in operating profit of 55% compared with 2013.
Cement consumption in Tanzania and East Africa region has continued to grow of the last few years. Having expanded it capacity, TPCC is well place to meet it growing demand.
The board proposes a dividend of 2014 of TZS 267 per share. This is a increase of 36.9% compared to the previous year's amount of TZS 195 per share. The proposed dividend includes interim amount of TZS 70 per share paid in October 2014. This represents 88.8% of the 2014 net income.
The reigster of members will close on 17th April 2015.The last day of trading cum dividend will be 14 April 2015. Dividend be paid on or about 30th June 2015.
The board would like to thanks all TPCC's stakeholders for their support during the past year. We have every confidence that TPCC will continue to deliver value for the shareholders in the future.
Further details can be obtained from a link below on TPCC's Audited results for the year ended 31st December 2014