Tanzania Daily News (Dar es Salaam)

Tanzania: Swissport Reports Good Performance

SWISSPORT (Tanzania) performance at the Dar es Salaam Stock Exchange (DSE) over the last 12 months, witnessed the firm's share prices rising by slightly more than 100 per cent.

Tanzania Securities said in its report that the shares gained by 13.7 per cent last week to reach 1,660/- a stock and attained a full 102 per cent. Over the past 12 months, shares of the aviation ground services provider rose from 820 to reach 1,660 , a good appreciation on the back of the firm's best performing year since it was listed at the bourse.

The rise at the stock exchange is a reflection of the firm's good performance after posting a pre-tax increment of eight per cent in the first half of this year. The firm saw its pre-tax profit shooting up from 3.99bn/- to 4.33billion as of last June -- thanks to increased frequencies and use of bigger aircraft by airlines.

Swissport's Chairman Juan Jose Andres Alvez said he was delighted to announce an interim dividend of 2.43bn/- compared to 2.24bn/- of the previous half. The profitability level pushed up the earning per share by 12 per cent from 75/33 to 84/36, while interim dividend rose by eight per cent from 62/27 to 67/49 in comparison to last year's corresponding period.

On the future outlook, the chairman said on decreased cargo volumes over European economic crisis, the situation seems to be grim. Swissport was distantly followed by TBL whose shares went up 29.7 per cent to 2,620 , with TCC coming third with 28.03 per cent share appreciation to 4,020/ each.

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