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NICOL outstanding performance spurs share prices

NICOL outstanding performance spurs share prices

NICOL Investment Plc value of its shares has increased tremendously on the Dar es Salaam Stock Market (DSE) thanks to the company’s outstanding performances that saw its profit rising by 68 per cent in the first half of this year.

The company’s shares at the equity market rose to 250/- from 170/- previous, giving a positive signal for current and prospective investors to buy the shares.

The NICOL Acting Chief Executive Officer, Erasto Ngamilaga, said that the profit came as a result of the increment of revenues in the season of half year 2021 which comes from investment in different companies including profit from treasury bills.

Mr Ngamilaga said they have also managed to reduce operating costs by over 37 per cent and they continue with company improvements so that they can be able to provide an attractive dividend to its members.

 “We assure our members that the company is doing better and better and we promise to continue with this trend and our shareholders should expect a good dividend this year,” he said.

He said NICOL strategic plan is to continue with investment in various profitable projects adding that until the final financial report of the company, they have invested 7.6bn/- in treasury bills and they expect to increase the amount of the investment up to 15bn/-.

He said the investment will help to improve revenues to its stakeholders, increase the dividend, help to increase the value of the company and increase the share prices in DSE.

“The Board commends and appreciates its shareholders and different institutions which collaborate with NICOL in its daily operations and we call upon other people to take chance and invest with NICOL which continues to be strong in the market,” he said.

Speaking about the dividend and NICOL annual general meeting, Erasto said shareholders will be informed by the board once everything is clear.

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Author: DAILY NEWS Reporter

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