SEL DIVIDEND INCOME FROM SWAZI MTN INCREASES BY E7M

MBABANE – Swaziland Empowerment Limited (SEL) shareholders dividend income from Swazi MTN increased by 10 per cent from E59 million to E66 million during the financial year ended March 31, 2017.

This effectively means, SEL which has a 19 per cent equity stake in Swazi MTN, realised an E7 million dividend income increase during the year under review.   
The financials published Tuesday reflect that SEL had posted financials that showed positive growth and improved dividends, the share price increased from 2500 cents in 2016 to 3100 cents in 2017.

Company Secretary Makhosazana Mhlanga also affirmed that had been an increase in share price when compared 31 March 2016.
“This is as reflected in other comprehensive income. Net change in fair value of available for sale financial asset increased from E18 525 000 to E91 356 000. Dividend income from Swazi MTN increased by 10 per cent from E59 million to E66 million,” explained Mhlanga.
SEL profits also grew by approximately 13 per cent from E64 million to E73 million. It should also be mentioned that total

comprehensive income of SEL almost doubled during the period under review. An approximate growth of 99 per cent was recorded from E82.6 million in 2016 to E164.4 million in 2017.    
“Finance income increased by 63 per cent from E7 million to E11 million. Finance income comes from investments in bonds, short term loans and funds in money market,” Mhlanga said.

Mhlanga was asked to illuminate on the reasons as to why performance was expected to remain relatively the same over the next reporting period as mentioned in the published financials, to which she explained: “SEL’s main investment  is its 19 per cent equity stake in Swazi MTN and its main source of income is dividends from Swazi MTN. SEL remains confident that Swazi MTN will continue to do well.”

Post your comment

Your name:

Your e-mail address:

Add your comments:

Please enter the code you see in the image:

Image:

Code: