Twiga emerges top gainer on Dar Stock Exchange

TWIGA counter on the Dar es Salaam Stock Exchange (DSE) was the top gainer last week after contributing 57.16 per cent of the total turnover of 349m/-.

Similarly, the counter registered price increase of 14.4 per cent to close the trading session at 2,060/- compared to 1,800/- of the opening.

The other major movers according to weekly Financial Markets Synopsis were CRDB with a turnover of 118.61m/- from 741,312 shares that accounted for 19.41 per cent of the total turnover.

The Tanzania Breweries Limited (TBL) moved 6,098 shares generating a turnover of 91.45m/- accounting for 14.97 per cent of total turnover.

SWISS moved 11,086 shares to generate turnover of 34.69m/- equivalent to 5.68 per cent of total turnover while shredding 10.86 per cent of the counter’s price from 3,500/- to 3,120/-.

SWISS price decrease can be directly related to a 21 per cent drop in both the operating profit and net profit reported in the company’s semi-annual financial results for the period to June.

The company saw a 4 per cent decline in revenues attributing the slowdown to the change in the mix of aircraft type handled despite an increase in cargo handling revenue.

DSE which moved 7,680 shares generating a turnover of 13.92m/- accounting for 2.28 per cent of the total turnover and 4.01 per cent price decrease from 1,900/- to 1,820/- at the end of the week.

Other counters including NICOL, TCC, TOL, SWALA, VODA, MBP and NMB also recorded some activities during the week with a cumulative turnover of 3.07m/- a mere 0.5 per cent of the total turnover.

TCCL reported a breath of life with a 26 per cent growth in the sales revenues from 78.8bn/- for the comparative period last year to 98.9bn/- period to June.

Net loss of the company declined to 1.8bn/- from 14.6bn/- recorded in the previous comparable period leading to an 87.93 per cent drop in the loss-pershare to 28/- from 232/- per share.

Also it was noticed price decline for cross listed counters including ACACIA by 2.42 per cent, EABL (3.1 per cent), JHL (0.9 per cent), KA (4.26 per cent), KCB (4.90 per cent) and NMG (10.42 per cent) while USL remained unchanged.

THE volume of cargo handled ...

Author: DAILY NEWS Reporter

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