We have extracted below the Chairman’s Statement from the 2018 annual report of (TCC.tz), listed on the Dar es Salaam Stock Exchange:
Our results demonstrate the agility of our people to respond to challenges, the strength of our wide choice of brands and re-affirm our strategies to grow the business
Welcome to our Annual Report for the year ended December 31, 2018. On behalf of the Board of Directors of Tanzania Cigarette Public Limited Company (TCC Plc), I am pleased to report a strong set of results for the year.
The business delivered a strong performance with a volume growth of 5 % and net profit growth of 6 % on prior year. This performance was driven by strong export volume, pricing in the domestic market and operational cost efficiencies. These results demonstrate the agility of our people to respond to challenges, the strength of our wide choice of brands and re-affirm our strategies to grow the business. In view of the strong results for the year, the Board of Directors has recommended a final gross dividend of TZS 250 per share. This dividend is subject to approval by shareholders at the Annual General Meeting on April 3, 2019. The final gross dividend, including the TZS 200 interim gross dividend paid in October 2018, brings the total gross dividend for the year ended December 31, 2018 to TZS 450 per share.
A conducive business environment We commend the government for initiating measures to improve the business environment and investor confidence.