Tanzania’s Precision Air posts 634m shilling net profit for 2011/12

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Tanzanian carrier Precision Air earned a net profit of 634 million shillings ($397,000) in the fiscal year to 31 March 2012.

The airline's pre-tax profit grew 18.3% year-on-year to 1.84 billion shillings, while revenue surged 43% to 163 billion shillings.

RPK passenger traffic for the fiscal year grew 33% year-on-year, with passenger numbers increasing 24% to 825,000.

The airline disclosed the six-month-old financial figures at its annual general meeting in Dar es Salaam earlier this month.