In accordance with the rule number 53(6) of the Dar es Salaam Stock exchange Rules, companies are required to publish a cautionary notice as soon as they are satisfied that a reasonable degree of certainty exists that the financial results for the period to be reported upon next will differ by at least 25% from the financial results for the previous corresponding period.
Accordingly, shareholders are advised that Tanga Cement expects that the Operating Profit before Interest and Tax for the year ended 31st December 2018 to be between 232% and 248% higher than that achieved in the comparative year ended 31st December 2017.
Tanga Cement also expects that its loss per share for the year ended 31st of December 2018 will be between TZS 150 per share and TZS 199 per share, being between 52% and 64% lower that it’s Loss per share of TZS 418 per share for the year ended 31st December 2017.
The Tanzanian cement market improved notably for the year ended 31st December 2018. Tanga Cement significantly improved its trading results and profitability while simultaneously increasing production and sales volumes.
The company expects to publish its audited financial results for the year ended 31st December 2018 by no later than 31st March 2019 in line with the Dar es Salaam Stock Exchange Rules.
Shareholders are accordingly advised to exercise caution when trading with the company’s securities.
The financial information on which this trading statement is based has not been reviewed or reported on by Tanga Cement’s auditors.
On behalf of the board
Chairman of the board
source: Mwananchi, 12 March 2019