15 February 2018

Tanzania: Dse Doubles Profit in Q4 2017

Dar es Salaam Stock Exchange (DSE) has posted a strong net profit increase of 47.4 per cent in last year's quarter four, thanks to transaction fees that doubled.

The net profit, according to a financial statement, surged from 732.41m/- in the fourth quarter of 2016 to 1.079bn/-in the corresponding period last year. Profit after tax in the same period was 14 per cent higher than Q3 in same year that posted 946.5m/-.

The statement attributed the profit to transaction fees that slightly over doubled to 566.43m/- from 224.25m/- while other operating revenue went up twenty times to 233.83m/- from 10.63m/- and listing fees slightly increased to 716.5m/- from 601.4m/-.

However, investment income dropped to 477.3m/- from 592.49m/-. In total the revenue during the quarter under review climbed by 43 per cent to 2.25bn/- from 1.57bn/-. Tanzania Securities said in statement that the bourse in Q4 posted a strong performance despite the challenging economic environment in the year.

The bourse that selflisted some three years ago, reported a basic earnings per share (EPS) of 53/-. The EPS representing a 47.2 per cent increase from 36/- recorded during the similar quarter of 2016. Basic Earnings per Share surged 47.2 per cent to 53/-in Q4 last year. Since the beginning of the year, the bourse share price appreciated almost 43 per cent to reach 1,600/- from 1,120/-.

The future prospectus of DSE, some stock brokers said, has helped to push up stock price well above the IPO price of 500/-. The share price gain for DSE was the highest since the year starts. DSE last year announced a dividend of 42/-.

Dar es Salaam

Tanzania

Cold and Tired, But Extremely Happy on Highest Point of Africa

Seven-year-old Montannah Kenney has become the youngest girl to climb Mt. Kilimanjaro in Tanzania. Read more »

See What Everyone is Watching

Copyright © 2018 Tanzania Daily News. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 800 reports a day from more than 140 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.