A high-margin consumer-staple cash machine — 65 years in the market — that grew FY2025 profit 17% to TZS 135bn on an ~62% gross margin, and lifted its total dividend to TZS 1,050 per share.
The analysis — key observations
- Profit growth with pricing power. Profit rose 17% to TZS 135bn and EPS climbed to TZS 1,354 from 1,153 — staple pricing power flowing through to the bottom line.
- Exceptional margins. Gross profit of TZS 314.1bn on TZS 507.2bn revenue is an ~62% gross margin — a hallmark of an entrenched, low-capital consumer franchise.
- Generous, rising payout. A total dividend of TZS 1,050/share (TZS 400 interim + 650 final) — the company returns the bulk of its earnings as cash.
- Defensive demand. A mature, regulated category with steady volumes — low growth, but highly cash-generative and resilient.
The story — FY2025
A textbook cash compounder: modest top-line growth, very high margins, and almost all profit returned as dividends. The watch items are regulation, excise, and the long-term ESG/category outlook — not near-term cash generation.
FY2025 performance
507.2bn
Revenue
from 454.6bn
1,050
Dividend/sh · TZS
400 + 650
314.1bn
Gross profit
from 280.1bn
Valuation context (illustrative, educational)
| Measure | FY2025 |
|---|
| EPS | 1,354 |
| Dividend per share | 1,050 |
| Payout of earnings | ~78% |
Illustrative framing for education only — not a price target or recommendation. For a live market price and P/E, see DSE:TCC on the Dar es Salaam Stock Exchange; figures here are FY2025 reported results.