DSE profit raises four-time in Q2

DARES SALAAM Stock Exchange (DSE) net profit has climbed up four times in this year second quarter (Q2), warranting a first interim dividend of 42/- a share. DSE’s dividend was the first since the bourse self-listed mid last year to be limited by share instead of trustee.

According to financial statement issued yesterday, the bourse posted a net profit of 931.75m/- in Q2 this year from 288.1bn/- of Q2 last year. The statement said dividend declares covers nine months from last July to this March.

“The dividend will be paid less 5.0 per cent withholding…” the statement said yesterday. The profit came after DSE total revenue climbed up over 60 per cent to 1.84bn/- in Q2 pushed up mainly by listing fees and investment income.

The bourse expenses, however, rose up slightly from 854.24m/- in Q2 last year to 909.6m/- in this year Q2. On other hand the net profit comparing Q1 and Q2 of this year, the exchange realized a net profit increase of 34 per cent.

This means in Q2 the bourse net profit jumped to 931.75m/- from 694.68m/- in Q1. The profitability pushed up basic earnings per share to 46/- from 34 in Q1. While diluted earnings per share increased by 10/- to 39/- at end of June.

During the listing day the bourse share appreciated from 500/- to 2,000/- before dropped to current 1,200/- as speculation investors pulled out. Tanzania Securities compilation shows that DSE stock remained as most appreciated share in the last seven month of this year until yesterday.

The DSE share has appreciated by 18 per cent to 1,200/- yesterday from 1,000/- at the beginning of the year.