SWISSPORT - Un-audited Financial Results Six Months Ended 30 Jun 2013

Commentary

The Board of Directors of Swissport Tanzania Limited is pleased to present the company’s un-audited financial results for the six months ended on 30th June, 2013.  During this period, the number of flights increased by 16% while the volume of cargo handled decreased by 18% when compared to the same period last year.  Total revenue on the other hand, increased by 22% while operating costs increased by 23%.  Profit before tax increased by 17% from TAS 4,327M to TAS 5,051M during the period under review.  This good performance was due to increased frequencies, use of bigger aircraft by our customer airlines and enhanced operational efficiency.

 

Internal approvals for the construction of a new import warehouse at Julius Nyerere International Airport have been obtained and construction will start by November, 2013.  This project which is expected to be completed towards the end of 2014 will improve our capacity as well as our service delivery and efficiency.

 

Dividends

The Board is delighted to announce an interim dividend of TAS 2,818M or TAS 78.29 per issued and fully paid share (2012 – TAS 2,430M or TAS 67.50 per share).  Pursuant to this declaration, the share register will be closed on 16th September, 2013 and the last day of trading cum dividend shall be on 11th September, 2013.  The interim dividend will be paid on or about 12th  November, 2013.

 

Outlook

Our airtime customers are performing well and continued growth of frequencies is expected to the end of the year.  Cargo volumes decreased during the first half of the year but are now recovering and we expect the trend to continue.  In view of the foregoing, the board is optimistic that the Company’s performance for the second half of the year will remain satisfactory.

  

Juan Jose Andres Alvez

Board Chairman