{"id":9793,"date":"2020-06-02T16:16:28","date_gmt":"2020-06-02T16:16:28","guid":{"rendered":"https:\/\/www.africa-press.com\/tanzania\/?p=9793"},"modified":"2020-06-02T16:16:28","modified_gmt":"2020-06-02T16:16:28","slug":"nicol-share-gains-despite-profit-decline","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/tanzania\/economy\/nicol-share-gains-despite-profit-decline","title":{"rendered":"NICOL SHARE GAINS DESPITE PROFIT DECLINE"},"content":{"rendered":"

AfricaPress-Tanzania:<\/strong> NATIONAL Investment Company Limited (NICOL) share has gained by 3.03 per cent despite decline in company annual profit.<\/p>\n

The share price gained to 170\/-and after moving 8,000 shares for the week ending last Friday while the mutual fund profit sunk 67 percent to almost 650m\/-for year ending last December.<\/p>\n

Orbit Securities said the mutual fund financials reported a total comprehensive loss due to a 1.64 per cent decline in the fair value of financial assets, especially equities.<\/p>\n

\u201c\u2026The Company noted an expropriation of the company\u2019s 51 percent stake in Tanzania Meat Company (TMCL) by the Ministry of Livestock and Fisheries.<\/p>\n

\u201cThe company is to take legal steps to protect shareholders\u2019 interests,\u201d Orbit said. NICOL\u2019s shareholding register has further been updated to match the register which previously existed at the exchange.<\/p>\n

The total number of shares as at the end of last December was 69.16million shares.<\/p>\n

The company total investment income dropped to 2.8bn\/-for the year ending last December from 3.7bn\/-of previous period under review.<\/p>\n

While, total expenses increased to 1.97bn\/-from 1.68bn\/-. Last week, Tanzania Share Index (TSI) slipped by a marginal 0.05 point to close the week at 3,491.87 points following a slight deceleration of the price of DCB Bank.<\/p>\n

Also the domestic market capitalization followed suit after a marginal loss of 0.001 per cent equivalent to 120m\/-. The domestic market cap closed the week at 9.17tri\/-.<\/p>\n

\u201cDue to its lower weight,\u201d Orbit said, \u201cthe appreciation of NICOL was not enough to offset the deceleration on the DCB counter, resulting on a slight shed on the TSI.\u201d<\/p>\n

Last December the government retook Dodoma abattoir, and tasked NICOL to pay all debts. Following the cancellation, NICOL is required to repay 9.7bn\/-and settle all debts of TMCL over 5.2bn\/-.<\/p>\n

The Dodoma abattoir was built by the government in early 2000s and was privatised in 2008 to NICOL and National Ranch Corporation (NARCO) to form TMCL.<\/p>\n","protected":false},"excerpt":{"rendered":"

AfricaPress-Tanzania: NATIONAL Investment Company Limited (NICOL) share has gained by 3.03 per cent despite decline in company annual profit. The share price gained to 170\/-and after moving 8,000 shares for the week ending last Friday while the mutual fund profit sunk 67 percent to almost 650m\/-for year ending last December. Orbit Securities said the mutual […]<\/p>\n","protected":false},"author":84,"featured_media":9780,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[482,4206,888],"class_list":["post-9793","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-nicol","tag-tmcl","tag-tsi"],"yoast_head":"\nNICOL SHARE GAINS DESPITE PROFIT DECLINE - Tanzania<\/title>\n<meta name=\"description\" content=\"NATIONAL Investment Company Limited (NICOL) share has gained by 3.03 per cent despite decline in company annual profit.The share\" \/>\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\/economy\/nicol-share-gains-despite-profit-decline\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NICOL SHARE GAINS DESPITE PROFIT DECLINE\" \/>\n<meta property=\"og:description\" content=\"NATIONAL Investment Company Limited (NICOL) share has gained by 3.03 per cent despite decline in company annual profit.The share\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/tanzania\/economy\/nicol-share-gains-despite-profit-decline\" \/>\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=\"2020-06-02T16:16:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2020\/06\/9b7b5cbaf03efbc19bf9df846c00064d.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\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\/economy\/nicol-share-gains-despite-profit-decline#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/nicol-share-gains-despite-profit-decline\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"NICOL SHARE GAINS DESPITE PROFIT DECLINE\",\"datePublished\":\"2020-06-02T16:16:28+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/nicol-share-gains-despite-profit-decline\"},\"wordCount\":322,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/nicol-share-gains-despite-profit-decline#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2020\/06\/9b7b5cbaf03efbc19bf9df846c00064d.jpg\",\"keywords\":[\"NICOL\",\"TMCL\",\"TSI\"],\"articleSection\":[\"all news\",\"Economy\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/tanzania\/economy\/nicol-share-gains-despite-profit-decline#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/nicol-share-gains-despite-profit-decline\",\"url\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/nicol-share-gains-despite-profit-decline\",\"name\":\"NICOL SHARE GAINS DESPITE PROFIT DECLINE - 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