Tanzanian Cargo Operator Announces Record Pretax Income

Swissport Tanzania (DSE:SWIS) has recently disclosed its financial results for the six months ended on June 30th, 2015 presenting an all-time high pretax profit that increased by 43% to TSZ 9.93 billion from TSZ 6.96 billion over the same period last year.

The growth was mostly driven by gains on forex exchange, further additional aircraft movements and increased in cargo volumes which raised the total revenues by 26% while operating costs did the same in only 17%.

These earnings let the company to put aside a total amount of TSZ 5,578 million or TSZ 154.84 per share to pay out shareholders on November 27th, 2015 which represents an increase of 42% from the TSZ 3,927 million or TSZ 109.07 per share paid out in the same period last year.

Swissport Chairman, Mr. Juan Jose Andres Alvez, stressed that the use of bigger aircrafts by customer airlines helped to reach this goal, but also the improvements achieved on operational efficiency.

The company expects a slight increase in the number of flights while cargo volumes are expected to keep constant up to the end of 2015.

According to the Tanzania Airport Authority (TAA), the aircraft movements at all the international airports of the country are expected to be around 160,000, the number of passengers at 3,500,000 and cargo volume at 25,000 tons.

Regarding to movements in share’s price, the Dar es Salaam Stock Exchange (DSE) daily reports indicate that SWIS’ shares have risen from TSZ 5,100 on January 2nd, 2015 to a current price of TSZ 7,500 reached after the results’ disclosure.