Turnstar profits from stronger US Dollar

Thursday, November 05, 2015

A stronger dollar helped boost Turnstar Holdings Limited profits for the half-year ended July 2015, with the greenback based earnings from its Tanzania subsidiary translating into higher Pula revenues.

The dollar has been strengthening against most major currencies, gaining 13.8% against the Pula in the year to October 2015.

Turnstar Finance Manager, Comfort Rankgomo told Mmegi Business the property company’s profit before tax grew by 10.6% for the half-year ended July 31, 2015 compared to the corresponding period of the preceding year.

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Turnstar profits from stronger US Dollar

A stronger dollar helped boost Turnstar Holdings Limited profits for the half-year ended July 2015, with the greenback based earnings from its Tanzania subsidiary translating into higher Pula revenues.