In Summary
  • The firm’s combined financial statements for Q4 of 2018 shows total operating revenue fell to Sh6.2 billion

Dar es Salaam. The Dar es Salaam Stock Exchange (DSE) Group’s cumulative net profit went down to Sh1.68 billion last year compared with Sh3.8 billion recorded during the previous year.

The company’s combined financial statements for the quarter ending December 2018 shows that total operating revenue fell to Sh6.2 billion last year from Sh7.9 billion recorded during the previous year.

The fall in operating revenue was a result of a decrease in investment income to Sh1.5 billion last year from Sh2 billion the previous year, while transaction fees fell to Sh791 million last year from Sh1.6 billion the previous year.

The DSE Group’s other operating incomes also fell to Sh486 million last year from Sh1.18 billion recorded during the previous year while the registry & CDS fees went up to Sh944 million last year from Sh373 million recorded the previous year.

The Group’s both basic and diluted earnings per share also went down to Sh70 during the year ending December 2018 from Sh163 recorded during the year ending December 2017. Zan Securities Limited chief executive officer Raphael Masumbuko commented that last year some investors were not active in buying shares compared to 2017.

He said this was a result of a slowing global economy as many investors were skeptical in investing their capitals in developing countries, as well as low performances of other stock markets where some foreign companies, which are cross-listed at the DSE, were originally listed, including Nairobi and London.

“But we are very optimistic that this year will see increased activities, mostly purchases. We hope this will improve the DSE Plc earnings,” he said

Further Mr Masumbuko added some of companies getting loss so they were delayed in investing their capitals. “But once the DSE net profit decrease it’s for entire sector so we encourage people to buy shares in the stock market,”