The Board of Directors of Swissport Tanzania Plc is pleased to announce the audited financial results for the year ended 31st December 2014. During the year, the total operating revenues grew by 23% to TAS 44,387M as compared to 2013. On the other hand, the operating profit for the year was TAS 18,693M representing a 64% increase when compared to last year. This robust performance is mainly due to increased traffic, the use of bigger aircraft by our airline customers, foreign exchange gains and, more importantly, due to enhanced operational efficiency and strict cost control.
New Import Cargo Warehouse
The construction of our new import cargo warehouse, which commenced in December 2013, reached an advanced stage allowing partial commissioning in November 2014, as planned. Installation of its fit-out is progressing well and full migration is expected to take place by August 2015, in conjunction with the move of our corporate offices to the new facility. The current cargo terminal will be turned into a full fledged export facility as a strategy of supporting Tanzania’s export initiatives. The aforementioned developments will not only consolidate our market position but will also improve efficiency and service delivery to our esteemed customers.
Dividend Payment
The Board is delighted to announce the final dividend of TAS 6,424M or TAS 178.43 per issued and fully paid share. An interim dividend of TAS 3,926M or TAS 109.07 per issued and fully paid share was paid in November 2014 making the total dividend for the year to be TAS 10,350M or TAS 287.50 per issued and paid up share (2013: TAS 5,997M or TAS 166.58 per share). Pursuant to this declaration, the share register will be closed on 25th March 2015 and the last day of trading cum dividend shall be on 20th March 2015. The final dividend will be paid out on or about 26th June 2015.
Future outlook
The prospects of the local aviation market indicate a slight increase in the number of flights while the volumes of cargo are expected to remain constant at best; consequently strict cost control remains necessary. To cope with the changing and demanding business environment, several strategies and plans have been put in place, including continued investment in ground support equipment and human resources development. Generally, we are optimistic that the Company’s performance in 2015 will be favourable.
Courtesy of Dar es Salaam Stock Exchange
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