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CHAIRPERSON’S STATEMENT
Introduction
During 2013 Tanga Cement Company Limited (TCCL) celebrated some significant milestones and successes in executing its strategy and living up to its brand promise of being the ‘Pride of the Nation’. We are proud of our contribution towards the development of Tanzania and more importantly to the lives of the many people we are able to touch and enhance due to our business activities.
Macro-Economic Overview
Tanzania Portland Cement Company Ltd (TPCC) strengthened is brand image through quality and service focus.
The Tanzanian economy grew at a continuous pace of about 7% to confirm the positive expectations from previous years. In the year under review, the Tanzanian Shilling was relatively stable compared with the major trading currencies, depreciating by less than 1% against the USD.
This morning, Tuesday 25 March,2014 one of the DSE’s key infrastructure failed to startup; as a result the trading system also failed to function. In this consideration, DSE had been forced to halt startup of today’s trading session to allow the system engineers to diagnose the source of problem and repair it accordingly.
DSE Management
TURNOVER
Turnover increased by 5.5% (From TZS 422bl in 2012 to TZS 445.6 bl 2013). Increase was driven by increase in export and double digit growth in sales.
CASH FLOW
Operating cash flow increase from 72.1 in 2012 bl to TZS 105.9 bl in 2013
DIVIDEND
The Chief Guest Mr. Ludovick Utoh - Controller & Auditor General;
Representative of the Executive Director of the National Board of Accountants
Emmanouil Schizas ACCA’s Senior Economic Analyst
Members of the Media
Distinguished Guests;
Ladies and Gentlemen.
The Board has approved the payment of Tsh 150/= per share as the final dividend for F14.
Pursuant to the dividend payment declaration, the Share Register details shall read as follows:
Closure of the Members Register: 7th March, 2014
Trading of shares cum Dividend: 13th February, 2014 to 4th March, 2014
Trading of shares Ex Dividend: 5th March, 2014
Dividend Payment on or about: 20th March, 2014
The Board has approved the payment of Tsh.150/= per share as the 2nd interim dividend for F14.
Pursuant to the dividend payment declaration, the Share Register details shall remain as follows:
Closure of the Members Register : 19th December, 2013
Trading of Shares cum Dividend : 26th November, 2013 to 16th December, 2013
Trading of shares Ex Dividend : 17th December, 2013 to 19th December, 2013
Chairman’s Statement
Tanzania Portland Cement Company Limited (TPCC) recorded revenues of TZS 102bn in the first half of 2013. This is a decrease of 20% compared with the same period in 2012. The decrease in revenue is mainly due to decrease in sales volumes. These were largely impacted by the increased quantities of imported cement from Pakistan, allegedly caused by under-declaration of values and quantities leading to non-payment of statutory taxes and duties by the importers.
The Board has approved the payment of Tsh.150/= per share as the 1st interim dividend for F14.
Pursuant to the dividend payment declaration, the Share Register details shall remain as follows:
Closure of the Members Register : 15th August, 2013
Trading of Shares cum Dividend : 22nd July, 2013 to 12th August, 2013
Trading of shares Ex Dividend : 13th August 2013 to 15th August 2013
