Swissport Tanzania Plc, a leading ground-handling services provider, has announced its unaudited financial results for the first six months of 2022. The company reported a 25% increase in total revenue, reaching Tsh 17,763 million compared to Tsh 14,242 million for the same period last year. Total operating cost also increased by 10% from Tsh 13,879 million to Tsh 15,202 million. Despite the rise in operating costs, Swissport Tanzania Plc was able to report a net profit of Tsh 2,152 million, a significant increase from the Tsh 174 million reported in June 2021.
The earnings per share also saw a notable increase of 1137%, from 4.83 in June 2021 to 59.78 in June 2022. Furthermore, the company's total equity increased by 11% from Tsh 28,555 million to Tsh 31,731 million. Non-current liabilities decreased by 9% from Tsh 4,818 million in 2021 to Tsh 4,404 million in 2022. Meanwhile, current liabilities decreased by 38% from Tsh 15,664 million to Tsh 9,739 million.
Cash generated from operating activities also increased significantly, from Tsh 3,669 million in 2021 to Tsh 4,960 million in 2022. Net cash from operating activities increased from Tsh 2,083 million in 2021 to Tsh 4,562 million in 2022, which is good news for the company's shareholders.
The impressive financial performance is attributed to the recovery of the company's business from the impact of COVID-19, as well as continued cost-cutting measures implemented by the management to ensure the business's profitability. The company's success in achieving these results is a testament to the strength and resilience of Swissport Tanzania Plc's business model.
Overall, the unaudited financial results for the first six months of 2022 demonstrate Swissport Tanzania Plc's ability to navigate challenges and continue to thrive in a dynamic and competitive market. The company's commitment to innovation, efficiency, and customer service will undoubtedly continue to drive its success in the future.