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Twiga Cement?s net jumps by 47 per cent

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Tanzania Portland Cement Company?s (Twiga) net profit grew by almost more than 47 per cent in 2014. According to the company, the profit increased by 47.3 per cent to $29.8 m for 2014, up from $20.2 m in 2013. Jean-Marc Junon, Chairman, Twiga Cement, said that the country?s 7 per cent GDP growth in 2014 helped to boost cement consumption significantly. Twiga recorded a 15 per cent increase in sales volumes as a result of a better production efficiency, the commissioning of a new cement plant in the last quarter and the re-introduction of Twiga Extra in the company?s product mix. Junon said that cement industry prospects are positive as consumption in the country and the East African block had continued to grow over the last few years.

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