Tanzanian Cargo Handling Operator Profits Grew 64% In 2014

Swissport Tanzania Plc (DSE: SWISS), Tanzania’s leading cargo handler released its audited financial results for the year ended 31st December 2014.

During the year, the total operating revenues grew by 23% compared to TZS 44,387 million in 2013, while operating profits grew by 64% to TZS 18,693 million.

The strong performances are attributed to increased traffic, the use of bigger aircraft by airlines, foreign exchange gains and enhanced operational efficiency.

Swissport Tanzania announced final dividend of TZS 6,424 million or TZS 178.43 per issued and fully paid share.

An interim dividend of TZS 3,926 million or TZS 109.07 per issued and fully paid share was paid in November 2014 making the total dividend for the year TZS 10,350 million or TZS 287.50 per issued and paid up share (2013: TZS 5,997 million or TZS 166.58 per share).

Looking at Swissport Tanzania future outlook, the prospects of the local aviation market indicate a slight increase in the number of flights while the volumes of cargo expected to remain constant; generally, the company believes performance in 2015 will be favourable.  

The Tanzania Airport Authority (TAA) has currently embarked on major aviation infrastructure projects across the country making up one of Africa’s largest public investment programmes in aviation infrastructure.  

A new terminal is under construction at Dar es Salaam Julius Nyerere International Airport, Kilimanjaro International near Arusha is undergoing modernization and expansion, works at Mwanza airport are ongoing, a new Songwe airport was commissioned and Mtwara, Tanzania’s gas capital, will expand its airport.