TOL Gases Ltd, the leading manufacturer and distributor of industrial and medical gases in Tanzania, listed at the Dar Es Salaam stock exchange, published its 2013 audited Financial Results.
Revenues increased by 13% from TZS 9.5 billion in 2012 to TZS 10.8 billion in 2013 while profit for the year increased by 5% from TZS 952 million to TZS 998.5 million.
During the company last annual general meeting held on 29th April 2014 TOL board chairman Harold Temu, indicated that higher performances could have been achieved if the company had not been faced with a number of operational challenges.
These included pressure drop from the just commissioned wells at the company’s new Ikama plant in Mbeya, which resulted in limited carbon dioxide production levels for six months of 2013. However, the problem was resolved.
Following the publication its audited accounts, the company listed at the Dar Es Salaam stock exchange saw its share price increase form TZS 310 to TZS 400 currently.
Meanwhile TOL Gases recent right issue has been oversubscribed by 32.7%.
Follow the link to download TOL Gases 2013 Financial Statements:
http://tanzaniainvest.com/downloads/TOL/TOL-Gases-Tanzania-Results-2013.pdf
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