SWISSPORT Tanzania net profit slowed down 16 per cent last year on back of increased staff costs and amortization charges of the new warehouse.
The firm, largest ground handling in the
country, saw net profit slide to 15.23bn/- by the end of last year from
18.13bn/- of previous year. Swissport Board Chairman Mark Skinner said
total revenue increased slightly by 1.0 per cent due to decrease in
cargo revenue as the market experienced a general decline of imports.
The statement showed that ground
handling revenue increased 7.0 per cent whereas cargo revenue went down
8.6 per cent in 2016. This impacted negatively total revenue that
increases 1.0 per cent to 57.28bn/-.
“Competition has started in both cargo
and ground handling and its impact has been considered in our future
projection… we are optimistic that the company’s performance in 2017
will be satisfactory.”
In the year under review, amortization
of intangible assets was 1.24bn/-. Swissport share on Dar es Salaam
Stock Exchange since January has gone down by 50/- to 5,400/- of
yesterday.
The profit declining and new investment
impacted negatively dividend as result dropped by 16 per cent to 338/53
in 2016 compared to 403/06 of 2015.
The firm announced a final dividend of
218/47 per issue and fully paid share or 7.86bn/- in total. This means a
full year dividend of 338/53 totalling 12.18bn/-
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