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/-.