TBL share price up on bullish outlook

Tuesday December 12 2017

 

By The Citizen Reporter @TheCitizenTZ news@tz.nationmedia.com

The price for a share of TBL rose by 2.27 per cent last week as investors maintain a bullish outlook for the beer maker’s performance.

A few weeks ago, the Dar es Salaam Stock Exchange-listed company announced its interim results for the six months ending September 30, 2017, detailing that its volumes grew by 31 per cent on prior year mainly from affordable beer products. At the same time, its revenue grew by 12 per cent to raise its operating profit up by five per cent from Sh138 billion in 2016 to Sh146 billion in 2017 for the same period.

The company has enjoyed massive transactions at the bourse and last week, its share price rose by 2.27 per cent to reach Sh13,500, market data shows.

TBL, along with CRDB Bank and DSE Plc emerged as the most traded equities at the DSE last week, market data shows.

Turnover slowed by Sh300 million to Sh3.7 billion during the week ended in December 8 from Sh4 billion recorded during the week ended in November 30.

However, according to the report, number of traded shares increased to eight million during last week from 7.6 million shares transacted during the last week of last month.

The Dar es Salaam Stock Exchange All Shares Index (DSEI) closed at 2,162.27 points during the end of last week, which was 45.00 points lower than 2,207.27 points recorded during the previous week’s close.

The weekly report has shown that market capitalization also slowed by Sh433 billion to Sh20.8 trillion during the week ended in December 8 this year from Sh21 trillion recorded during the last week of November.

The decrease of market capitalization was a result of fall of share prices including Uchumi Supermarkets (10 per cent), Acacia (10 per cent), KCB (5 per cent) and DCB share price which went down by 1 per cent. According to the report, the market capitalisation for domestic listed companies went up to Sh10.31 trillion during the week ended in December from Sh10.03 trillion recorded during the last week of November.

The investors’ activities during the week experienced the mixed trend as local investors dominated the market on Wednesday and Friday by 100 per cent for both selling and buying sides.

Foreign investors dominated the market on Monday and Wednesday.

, accounting for 99 per cent of equity transactions in both selling and buying.

However, the market was flat on Tuesday last week as both foreign and domestic investors’ participated the market on selling and buying sides with no huge difference.

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