NMG posts Sh68.2bn pre-tax profit for 2013

>National Media Group (NMG) pre-tax profit for the period ended June this year grew to Sh29.7 billion, being a 2.1 per cent increase from the same period last year.

Exim Bank registered a pretax profit of Sh6.4 billion during the first three months of this year – a 42 per cent increase compared to a similar period in 2013.

African Trade Insurance (Ati) agency posted a profit of Sh2.4 billion ($1.5 million) last year, Sh960 million ($0.6 million) higher than it earned the previous year.

 Bank M closed 2014 with a pretax profit of Sh20.1 billion on a mix of earnings from interests on lending foreign currency as well as fees and commissions, it was announced

TOL Gases, a manufacturer and distributor of industrial and medical gases in Tanzania, posted a Sh998 million profit after tax in 2013, being a five per cent increase compared with the previous year’s.

DCB Commercial Bank has said it expects to increase profit after tax to Sh4 billion this year from Sh3.8 billion posted last year.

>Increased excise tax on tobacco products is hitting hard on the profitability of Tanzania Cigarette Company which recorded 20 per cent drop in the first half of 2014. TCC which is listed on the Dar es Salaam Stock Exchange recorded Sh35.3 billion as profit after tax for the six months ending June 30, 2014 compared to Sh44.3 billion it recorded in the same period last year, according to the firm’s financial statement.

DCB Commercial Bank recorded a Sh3.61 billion profit during its fourth quarter to December 31 last year, being a 44.5 per cent increase compared to the quarter before.

Shareholders with CRDB will have every reason to be happy as the bank has announced an increase in dividends by 16.6 per cent, thanks to higher profits.