Swissport Tanzania Plc Announces Sh2.5 Billion Dividend Payout Following Robust Financial Performance
In a landmark 40th Annual General Meeting held in Dar es Salaam, Swissport Tanzania Plc revealed an impressive financial performance for 2024, reporting a pre-tax profit of Sh8.6 billion and approving a substantial Sh2.5 billion dividend payout for shareholders.
The company’s financial results showcase a remarkable 47 percent increase in pre-tax profit compared to the previous year’s Sh5.5 billion. Revenue surged by 26 percent, climbing to Sh51 billion from Sh40.5 billion in 2023, driven by strong growth across multiple service areas including cargo handling, lounge services, and ground handling.
Key highlights of the company’s performance include:
– Revenue growth of 26 percent to Sh51 billion
– Operating costs increased by 22 percent to Sh42.1 billion
– Twiga Lounge at Kilimanjaro International Airport generated Sh1.99 billion in revenue
– 34 percent revenue increase for airport lounge services
The company attributed its success to strategic customer retention efforts, improved airline operations, and operational stability. Additional factors contributing to the strong performance included increased international passenger traffic, tourism growth, and expanded cargo export volumes.
A significant technological achievement was the implementation of the Integrated Weighing Scale System (IWS), which resolved manual data entry errors in cargo operations and enhanced operational accuracy.
Most notably, Swissport maintained an exceptional safety record in 2024, with no major safety incidents, aircraft damage, or lost-time injuries reported. The company remained fully compliant with safety and security regulations set by Tanzania’s aviation authorities.
The financial results demonstrate Swissport Tanzania’s resilience and strategic approach in navigating challenging economic conditions while maintaining high service standards and expanding its client portfolio.
