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COMMENTARY ON SWISSPORT TANZANIA PLC UNAUDITED FINANCIAL RESULTS

COMMENTARY ON SWISSPORT TANZANIA PLC UNAUDITED FINANCIAL RESULTS FOR SIX MONTHS ENDED 30 JUNE 2015
Commentary
The board of directors of Swissport Tanzania is pleased to present the un- audited financial results for the six months ended 30th June 2015. During this period the number of flights and volume of cargo handled grew by 9% and 3% respectively when compared to the same period last year. The total revenue increased by 26% while operating costs went up by 17%. Profit before tax rose by 43% from TZS 6,963M to TZS 9,937M. This good result was largely driven by forex exchange gains and further additional aircraft movements, use of bigger aircraft by our customer airlines, increased cargo volumes and improved operational efficiency.

Full migration into our new import warehouse, which was envisage to be in August 2015, will now happen in October 2015 due to unforeseen construction challenges. Our corporate office will move to the new facility in November 2015 as planned.

Dividend to Shareholders
The board is delighted to announce an interim dividend of TSH 5,5784M or TSH 154.84 per issued and fully paid share (2014- TSH 3,927M or TSH 109.07 per share). Pursuant to this declaration, the share register will be closed on 28 September 2015 and the last day of trading cum dividend shall be on 22 September 2015. The interim dividend will be paid out on or about 27 November, 2015.
Future outlook
The prospects of the performance of our airline customers indicate a slight increase in the number of flights while cargo volumes are expected to remain constantly or slightly increased. To cope with the changing and demanding business environment, several strategies and plans including continued investment in the ground handling equipment and human resources development have been put in place. Generally, we are optimistic that the good performance will be sustained during the remaining part of the year.
The board wishes to express its appreciation to customers, employees, management, shareholders and the Government for their continued support.
 
Juan Jose Andres Alves
Swissport: Board Chairman

Further details can be obtain from the Swissport financial report through a link below
http://dse.co.tz/sites/default/files/dsefiles/SWISSPORT%20UNAUDITED%20RE...