DAR ES SALAAM. Stock Exchange (DSE) has posted a strong net profit increase of 47.4 per cent
in last year’s quarter four, thanks to transaction fees that doubled.
The net
profit, according to a financial statement, surged from 732.41m/- in the fourth
quarter of 2016 to 1.079bn/-in the corresponding period last year. Profit after
tax in the same period was 14 per cent higher than Q3 in same year that posted
946.5m/-.
The
statement attributed the profit to transaction fees that slightly over doubled
to 566.43m/- from 224.25m/- while other operating revenue went up twenty times
to 233.83m/- from 10.63m/- and listing fees slightly increased to 716.5m/- from
601.4m/-.
However,
investment income dropped to 477.3m/- from 592.49m/-. In total the revenue
during the quarter under review climbed by 43 per cent to 2.25bn/- from
1.57bn/-. Tanzania Securities said in statement that the bourse in Q4 posted a
strong performance despite the challenging economic environment in the year.
The bourse
that selflisted some three years ago, reported a basic earnings per share (EPS)
of 53/-. The EPS representing a 47.2 per cent increase from 36/- recorded
during the similar quarter of 2016. Basic Earnings per Share surged 47.2 per
cent to 53/-in Q4 last year. Since the beginning of the year, the bourse share
price appreciated almost 43 per cent to reach 1,600/- from 1,120/-.
The future
prospectus of DSE, some stock brokers said, has helped to push up stock price
well above the IPO price of 500/-. The share price gain for DSE was the highest
since the year starts. DSE last year announced a dividend of 42/-.
Daily News
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