{"id":28896,"date":"2021-05-14T16:44:02","date_gmt":"2021-05-14T16:44:02","guid":{"rendered":"https:\/\/www.africa-press.net\/tanzania\/?p=28896"},"modified":"2021-05-14T16:06:14","modified_gmt":"2021-05-14T16:06:14","slug":"dse-profit-plunges-two-third-in-q1","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/tanzania\/all-news\/dse-profit-plunges-two-third-in-q1","title":{"rendered":"DSE profit plunges two-third in Q1"},"content":{"rendered":"

Africa-Press<\/a> – Tanzania<\/a>. <\/strong><\/span>Dar es Salaam Stock Exchange (DSE) net profit has slowed down by a two-third in the first quarter of this year, due to one-off prearranged transaction.<\/p>\n

The self-listed bourse net profit, on a quarterly basis, dropped to 714.91m\/- in quarter one from 2.12bn\/- in last year\u2019s fourth quarter.<\/p>\n

Orbit Securities, Head of Research and Analytics, Imani Muhingo said the profit\u2019s decline was the results of a prearranged transaction between Rabobank and Arise back in December which significantly hyped the equity in the quarter.<\/p>\n

\u201cThe profits on a quarterly basis is a result of the prearranged transaction\u2026which significantly hyped the equity turnover of quarter four in 2020, hence transaction fees and CSD fees incomes rose along,\u201d Mr Muhingo noted.<\/p>\n

The bourse financial statement showed that the two segments, transaction fees fell by 90 per cent to 136.57m\/- from 1.32bn\/- and CSD fees by 81 per cent to 178.51m\/- from 938m\/- in the quarter to quarter basis.<\/p>\n

Also the exchange operational expenses, which are pegged to the magnitude of market activities, fell by 84 per cent to 921.65m\/-.<\/p>\n

\u201cAn apple to apple comparison in quarter one of last year still saw net profit declined by 15.9 per cent as the total revenue fell by 11.3 per cent,\u201d Mr Muhingo said.<\/p>\n

DSE registered a net profit of 714.91m\/- for quarter one of this year, which was a decline compared to 849.60m\/- similar quarter last year.<\/p>\n

\u201cThe fall in this comparison was purely out of decline normal trading activities in the market,\u201d Mr Muhingo noted further.<\/p>\n

The transaction fees and CSD fee incomes fell by 64 per cent to 136.57m\/-and 34 per cent to 178.51m\/- respectively, while operating expenses fell by 44.5 per cent to 151.02m\/-.<\/p>\n

The equity turnover between these two periods fell by 76 per cent from 98bn\/- to 23bn\/- during this year\u2019s quarter one while the bond turnover fell by 26 per cent as well.<\/p>\n

\u201cDSE\u2019s lifeline seems to be on the listing fees and investment income which collectively accounted for 81 per cent of the exchange\u2019s revenue during the quarter,\u201d he said.<\/p>\n

This shows the significance of Treasury bond to DSE, because more than 85 per cent of the listed fees originate from listed T-bonds, while 27 per cent of the company\u2019s assets are T-bonds, and highly contribute to the investment income, while 51 per cent of the company\u2019s assets are in term deposits.<\/p>\n

Vertex International Securities, Advisory and Capital Markets Manager, Ahmed Nganya, said revenue declined by 11.38 per cent to 1.79bn\/- in quarter one.<\/p>\n

\u201c[This shows] the company recorded abysmal revenue as fees income declined\u2026,\u201d Mr Nganya noted.<\/p>\n

Ironically, staff cost increased to 774m\/- compared to 723m\/- in quarter one last year. Returns on Assets were 2.51 per cent against 3.35 per cent of last year while returns on equity were 2.79 per cent against 3.71 per cent.<\/p>\n

\u201cWe think the company has a work to do to rectify the situation,\u201d Mr Nganya added.<\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Tanzania. Dar es Salaam Stock Exchange (DSE) net profit has slowed down by a two-third in the first quarter of this year, due to one-off prearranged transaction. The self-listed bourse net profit, on a quarterly basis, dropped to 714.91m\/- in quarter one from 2.12bn\/- in last year\u2019s fourth quarter. Orbit Securities, Head of […]<\/p>\n","protected":false},"author":84,"featured_media":28895,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[6990,6991,711],"class_list":["post-28896","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press-2","tag-africa-press-tanzania","tag-tanzania"],"yoast_head":"\nDSE profit plunges two-third in Q1 - Tanzania<\/title>\n<meta name=\"description\" content=\"Dar es Salaam Stock Exchange (DSE) net profit has slowed down by a two-third in the first quarter of this year, due to o ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/tanzania\/all-news\/dse-profit-plunges-two-third-in-q1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DSE profit plunges two-third in Q1\" \/>\n<meta property=\"og:description\" content=\"Dar es Salaam Stock Exchange (DSE) net profit has slowed down by a two-third in the first quarter of this year, due to o ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/tanzania\/all-news\/dse-profit-plunges-two-third-in-q1\" \/>\n<meta property=\"og:site_name\" content=\"Tanzania\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2021-05-14T16:44:02+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2021\/05\/img-609e9fdb34c5e.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"530\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/dse-profit-plunges-two-third-in-q1#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/dse-profit-plunges-two-third-in-q1\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"DSE profit plunges two-third in Q1\",\"datePublished\":\"2021-05-14T16:44:02+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/dse-profit-plunges-two-third-in-q1\"},\"wordCount\":500,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/dse-profit-plunges-two-third-in-q1#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2021\/05\/img-609e9fdb34c5e.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Tanzania\",\"tanzania\"],\"articleSection\":[\"all news\",\"Economy\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/tanzania\/all-news\/dse-profit-plunges-two-third-in-q1#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/dse-profit-plunges-two-third-in-q1\",\"url\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/dse-profit-plunges-two-third-in-q1\",\"name\":\"DSE profit plunges two-third in Q1 - 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