Swissport stock closes the week at high note

DSEI at the close of the week

Swissport (Tanzania) share price has closed the week appreciating by 1.2 per cent to push up the Dar es Salaam Stock Exchange (DSE) indices, while turnover at the bourse also improved.

The only category A ground handler firm the country share price jumped from 840/- to 850/- a piece, amid high demand.

Swissport registered a turnover of 8.27m/-, to become the third most traded stock on the bourse yesterday after National  Microfinance Bank (NMB) that moved 71.74 m/-, followed by Simba cement with 21.36m/-.

“Indices edged upwards as the market saw Swissport share price increase (by 1.2 per cent),” Tanzania Securities Business Analyst Joel Nkya said on the firm’s daily market report.

As the results of Swissport stock price to go up, All share index (DSEI) gained 0.04 points to close at 1,298.34 points while Tanzania Share Index (TSI) gained0.17 points to close at 1,119.58 points.

In last year first half the company posted a 44 per cent pre-tax profit increase and said they are optimistic that the second half would remain solid despite challenges ahead. The pre-tax profit jumped to 3.99bn/- from 2.76bn/- during a similar period in 2010.

Swissport workers at JNIA

Speaking about the remaining half of this year, the Chairman said, "despite uncertainties in the airline industry globally, we are optimistic that our company's performance would remain solid."

Swissport is an aviation services company operating at Kilimanjaro International Airport (KIA) and Julius Nyerere International Airport (JNIA).

Source: tzexchange.blogspot.com

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