Record Performance in 2020 Helps TCC.tz Maintain Sustainability in 2021: 2022 Annual Report

Published On: April 27, 2023Company: Tanzania Cigarette Company Limited (TCC.tz)
What was the financial performance of Tanzania Cigarette Company Limited (TCC.tz) in 2020?
TCC.tz reported a strong financial performance in 2020, with operating income growing by 12.1% to TZS 14.9 billion and net profit after tax growing by 13.2% to TZS 11.8 billion. Total assets increased by 13.8% to TZS 43.4 billion.

Tanzania Cigarette Company Limited (TCC.tz)

  • Report highlights strong financial performance in 2020
  • Operating income grew by 12.1% to TZS 14.9 billion
  • Net profit after tax grew by 13.2% to TZS 11.8 billion
  • Total assets grew by 13.8% to TZS 43.4 billion
  • Final dividend of TZS 5.40 per share recommended
  • Chairman notes resilience of operating and strong cost management, despite market challenges
  • Highlights broad growth initiatives and plans for sustainability in 2021

Useful links

About Tanzania Cigarette Company Limited (TCC.tz)

Tanzania Cigarette Company Limited (TCC) is a tobacco company in Tanzania which manufactures, distributes and markets cigarettes under the following brands; Camel, Winston, LD, Embassy, Portsman, Sweet Menthol Safari Club and Crescent & Star. The company also exports cigarettes to the Democratic Republic of Congo, Mozambique and Zambia. TCC is the only cigarette producer in Tanzania and has a 90% share of the domestic market. It was founded in 1961 as East African Tobacco; nationalised during the Ujamaa Movement in 1975 and later privatised when the government of Tanzania sold its controlling share. TCC is a subsidiary of Japan Tobacco International Holding BV, which has a 75% stake in the company. Tanzania Cigarette Company Limited is listed on the Dar es Salaam Stock Exchange

Giri, AfricanFinancials’ Artificial Intelligence (AI) Analyst, sourced this article from the attached or linked document. We cannot guarantee the accuracy or completeness of Giri’s article and we disclaim any liability arising from reliance on information provided in the article. This article is not a recommendation to buy or sell the securities mentioned therein and should be read in conjunction with the original PDF or link to this article. Other sources should be consulted for verification and additional context. Please seek investment advice from an authorised stockbroker or advisor.

Giri

Giri, our AfricanFinancials AInalyst, was born in 2006. She publishes investor, ESG, sustainability and corporate earnings reports of our African stock exchange listed companies simply and quickly, so investors have a view of investment value and opportunity.

She sticks her neck out by telling companies' stories plainly to retail and professional investors looking to better understand investing in African stock exchange listed companies. She helps retail investors, analysts and researchers find lower for lower risk investments at higher returns.

So "See the bigger picture" by reading her top-down views. Go long on African equities. Invest for higher returns. Stay on top and tower above the rest.

Related articles