Sh1.4 billion approved for Swissport shareholders

Dar es Salaam. Shareholders of Swissport Tanzania Plc will receive a Sh1.4 billion dividend as the ground handling firm’s profit rises. This translates into a Sh41.8 dividend per share.

The firm’s CEO, Mrisho Yassin, said the company’s profit before tax rose to Sh3.9 billion in 2022 from Sh2 billion in the preceding year.

The company resumed payment of dividends last year, when Sh1 billion was shared.

In 2020, the company recorded a loss for the first time due to Covid-19 outbreak.

He said the company’s revenue has been growing due to the improved efficiency of its handling operations and promised that it will increase investment in the procurement of modern equipment.

Mr Yassin said the company will also continue to recruit professionals and increase storage facilities at airports of operations in order to create more jobs for citizens.

Currently, he said, Swissport Tanzania has 800 workers, 500 more as compared to 300 employees at the commencement of operations.

An investor and stock exchange stakeholder, Mr Mnanka Winani, said post Covid-19 operations have revived tourism and handled freight, therefore improving the market.

“Swissport Tanzania PLC should increase awareness about the operation of stock shares and make close follow-ups about investments and reports that will increase efficiency,” he said during the company’s AGM. During the meeting, different agenda items were deliberated, including approving the 2022 financial statement.

Swissport Tanzania Plc is a subsidiary of Swissport International Ltd, a leading ground and cargo handling services provider in Tanzania.

The company operates at Julius Nyerere and Kilimanjaro International Airports and was previously known as the Dar es Salaam Airport Handling Company (Dahaco).

It started operating at the Julius Nyerere International Airport (JNIA) on October 1, 1985, and extended operations to the Kilimanjaro International Airport (Kia) in October 1990.

In 2000, Swissport International Ltd acquired 51 percent of the shares of Swissport Tanzania (then Dahaco) to become the majority shareholder of Swissport Tanzania.

The remaining 49 percent of the company’s shares are held by the public through the Dar es Salaam Stock Exchange (DSE).