Tanzania Cigarette Company Ltd. announced unaudited earnings results for the half year ended June 2013. For the period, the net profit dropped to TZS 44.3 billion from TZS 44.7 billion in similar period last year. Profit has dropped slightly as the cigar manufacturer feels the pinch of increased tax and business fall for fast moving products. Gross turnover increased marginally by 3% to TZS 218 billion from the corresponding period last year's TZS 213 billion.

The company expects slight improvements in the second half performance despite maintaining existing price levels of its product even with 10% increase in excise duty in 2013.