TOL Gases Financial Report 'Impresses' Its Shareholders


Once upon a time, a company operating in the name and style of Tanzania Oxygen Ltd (T.O.L) beginning in the early 1950s was a thriving leader in the gas industry in what was then known as Tanganyika. Then it was transformed into TOL Ltd and rapidly went downhill before further being transformed into TOL Gases Ltd. Thereafter, what amounts to a miracle started to happen: TOL Gases is proving to be a steady comeback. For a second year running, the company has shown steady growth, and has recorded profit for two years running in 2012 and 2013, a positive development which has enabled the company to reduce its outstanding cumulative debts from over TZS 5.7 bn a few years ago to TZS 3.6bn in 2013
Source: Business Times