Uganda Securities Exchange Hit
Profitability of listed companies at the Uganda Securities Exchange has hugely cut with projections indicating difficult times ahead for shareholders in light of the current political campaigns.
Data shows a large drop in profitability of listed firms in the first half of 2015 from UShs 151 Billion in same period last year to UShs 112.5 Billion, representing a drop of nearly 25 per cent.
The performance was compounded by a substantial loss posted by Umeme.
The utility firm registered a Shs 4.4 Billion loss in the first half of the year, leading to a consolidated loss of UShs 38.3 Billion for the 16 listed companies at the USE.
Only two companies – Bank of Baroda Uganda (Bobu) and British American Tobacco Uganda (Batu) had significant gains in terms profit.
Uganda Securities Exchange which Recently adopted an Automated Trading system says it aims to list more companies and create value to shareholders through technology.
