Swissport, DCB shine on Dar bourse

Swissport and Dar es Salam Community Bank (DCB) had the best performing shares on the Dar es Salaam Stock Exchange (DSE) in the last 12 months.

According to DSE Report on Monday, Swissport was the best gainer with its shares appreciating over 61 per cent to 1,000/- in the last 12 months.

Swissport was closely followed by DCB whose stock went up 60 per cent to 640/-, with Tanzania Breweries Limited coming third with 46.67 per cent share appreciation to 2,640/- each.  The Swissport stock gain was attributable to the ground handling company’s pre-tax profit increase of 62 per cent to 10.2bn/- last year.

The profit rise provided for a handsome full year dividend of 5.6bn/- for the year, translating into 157.52/- per share with the company employees pocketing 700m/- in bonuses. 

Swissport’s Managing Director Gaudence Temu said when presenting the firm’s last year financial results that economic growth and business boom enabled the firm to post the impressive results. He said passenger and cargo flights went up in the said year. 

"The impressive performance was mostly driven by 24 per cent increase in handling flights, 17 per cent increase of cargo volumes as well as financial discipline which is part of our corporate culture," Mr Temu said. 

According to him, about 11,106 flights were handled during the year compared to 8,623 flights in 2010 and passengers increased from 509,000 in 2010 to 592,000 with cargo soaring to 27,605 tonnes from 23,582 in 2010.  

Last year, DCB was named one of the top ten best performing stock in Africa.

That propelled the bank to enhance its shareholders value through payment of dividend from 48/- per share in 2010 to Sh106 per share in 2016.  Meanwhile CRDB share price dropped by 2.17 per cent yesterday from 138/- to 135/-, pushing down the DSE’s indices as well.

DSE all share index dropped by 0.61 points to 1326.14 points while Tanzania all share index slid by 2.59 points to close the session at 1237.13 points.  The bourse total turnover on Monday dropped to 38.79m/- from 224,185 shares in comparison to the previous session which recorded a turnover of 120.17m/- from 267,174 shares.
Source: The Daily News, http://dailynews.co.tz , reported by Abduel Elinaza


Share on Google Plus

About Abduel Elinaza

This is a short description in the author block about the author. You edit it by entering text in the "Biographical Info" field in the user admin panel.