SWISSPORT COMMENTARY ON UN AUDITED SIX MONTH FINANCIAL RESULTS (JUNE, 2014)

Commentary
The Board of Directors of Swissport Tanzania Plc is pleased to present company’s un-audited financial results for six months ended on 30th June 2014. During this period, the number of flights handled increase by 15% while the volume of cargo handled decreased by 1% when compared to the same period last year. On the other hand, total revenue increased by 17% while operating costs increased by 8%. Profit before tax increased by 38% from TZS 5,051M to TZS 6,963M. This good result is due to increase in frequencies and the use of bigger aircraft by our customer airlines, good performance of Swissport Executive Aviation Unit, enhanced operational efficiency and control of operating costs.
The construction of a new warehouse at JNIA commenced at November 2013 and is expected to be completed in March 2015. The new cargo facility will improve capacity as well as service delivery and efficiency. In addition, the new facility is designed to accommodate administration offices for the Company and provide office space for lease to our cargo customers.
Dividend
The Board is delighted to announce an interim dividend of TZS 3,926M or TZS 109.07 per issued and fully paid share (2013 – TZS 2,818M or TZS 78.29 per share).
Pursuant to this declaration, the share register will be closed on 12th September 2013 and the last day of trading cum dividend shall be on 9th September, 2013. The interim dividend will be paid out on or about 11th November, 2014.
Future outlook
Our airline customers are performing well and further growth of frequencies is expected to the end of the year. Cargo volumes are expected to remain constant or increase slightly at the year end. In view of this, we are optimistic that the Company’s performance for the second half of the year will remain to be satisfactory.
By Juan Andres Alvez
Board Chairman