Swissport profit up 17%

Swissport Tanzania pre-tax profit soared by 17 per cent to 5.051bn/- in the first half of this year due to an increase in the number of flights by almost the same percentage.

Tanzania’s largest ground handling firm results show that the profit could surge more if it was not for the declining of cargo volume handled by 18 per cent in comparison to the same period last year.

Swissport Tanzania Board Chairman, Juan Jose Andres Alvez said total revenue increased by 22 per cent to 17.198bn/- due to increased flight frequencies and uses of bigger capacity airplanes.

“This good performance was due to increase frequencies, use of bigger aircraft by our customer airline and enhanced operational efficiency,” Mr Alvez said in a statement over the weekend.

The profit has boosted Swissport’s earning per share by 16 per cent in six months to 97/86 from 84/36 of similar period last year. The firm’s shares at the Dar es Salaam Stock Exchange (DSE), closed the week at 2,260/- . The share appreciated by 3.26 per cent since January.

The good performance also pushed up dividend per share by 16 to 78/29 in the first six months of this year and 67/50 full paid share for 2012. The company will dish 2.818bn/- and 2.43bn/- for dividends pay up for six months ending June and for 2012 respectively.

The chairman said the cargo volumes decreased in the first half of this year but are now on the recovery path and the trend expected to continue improving in the second half. “…the board is optimistic that the company’s performance for the second half of the year will remain satisfactory,” Mr Alvez said.

To boost efficiency and service delivery, the board of the firm approved for the construction of a new import warehouse at Julius Nyerere International Airport (JNIA). “… (The) construction (of the new warehouse) will start by November, 2013 and is expected to be completed towards the end of 2014…,” he said.

The then Dar es Salaam Airports Handling Company Ltd (DAHACO) was privatised in May, 2000 where Swissport International acquired 51 per cent shares and the government 49 per cent.
Source: Daily News, reported from Dar es Salaam, Tanzania
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