Tuesday, November 21, 2017

Listing fees boost Dar bourse Q3 profit

DAILY NEWS Reporter
DAR ES SALAAM Stock Exchange (DSE), net profit has almost doubled in this year’s quarter three, thanks to listing fees and registry and CSD fees.

The self-listed bourse, posted a net profit of 946.51m/- in quarter three from 574.12m/- similar quarter last year. The financial statement issued yesterday mainly attributed the profitability to listing fees that generated 713.57m/- in Q3 compared to 439.21m/- in Q3 last year.
Also registry and Central Securities Depositary (CSD) fees raked in 245.26m/- up from 144.42m/- of last year’s Q3. The bourse, to maximise revenue and increase efficiency, established a CSD and Registry Company Limited that went in operation last month.
Other revenues also contributed handsomely. Transaction fees generated 391.49m/- in Q3 from 326.22m/- in Q3 last year, investment income realised 489.78m/- from 477.32m/- while other operating income contributed 98.89m/- slightly up from 76.3m/-.
DSE, listed last year at the same exchange, realised total revenue of 1.93bn/- in Q3 up from 1.46bn/- of similar quarter last year. The profit results pushed up basic earnings per share by 1/- to 47/- a piece. DSE was the only equity that its share appreciated by over 20 per cent to 1,140/- in the last ten-half month to yesterday.
Another was TBL that gained 10 per cent to 13,300/-. The rest are either depreciated or stagnated since January. Nevertheless, DSE is currently developing a 5-year strategic plan 2018 - 2022 that will provide guidance on the implementation of the recommendations of the Study.
CSD and Registry Company has a mandate for operationalisation of clearing, settlement, maintenance of the CDS custody as well as providing registry services to both listed and non-listed companies.
The exchange said in Q3 CEO Note that they are in various stages in the process of reviewing the approval of listing of three mobile network operators’ applications that have applied for listing as per Electronic and Postal Communication Act (EPOCA) that was amended by the 2017.

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