Companies

CompaniesCorporate earnings and results

Standard Chartered reports strongest profits since 2016

Standard Chartered Bank Uganda's net revenue for 2019 grew at its fastest in three years as interest income rebounded, driven by interest from loans and advances, and from investment securities
A Standard Bank branch in Jinja
CompaniesCorporate earnings and results

Absa profits rebound on lending income boost

Absa Bank Uganda Limited, formerly known as Barclays Bank of Uganda, returned to profit growth in 2019 on the back of stronger growth in lending income and a rebound in interest from trading securities
An office of Absa Bank in Johannesburg
Companies

Monitor Publications cuts pay as Vision Group lays off staff

Monitor Publications Limited, part of the Nation Media Group, became the latest media company to cut salaries of its employees in response to a decline in revenue caused by the coronavirus outbreak
Offices of the Monitor Publications Limited in Namuwongo
CompaniesMarkets

Cipla Quality Chemicals faces loss on Zambia debt

The drugmaker Cipla Quality Chemical Industries Limited faces a net operating loss for the year to March 2020 after a delay in payment of debt owed by the Zambian government, the company said in a profit warning
Antiretroviral drugs to treat HIV infection
CompaniesMarkets

Coronavirus: NIC Holdings postpones results

NIC Holdings has said it is postponing the release of its 2019 results due to delays caused by the lockdown instituted to control the spread of the Covid-19 coronavirus
An office tower in Kampala
CompaniesEnergy, Oil & Gas

Total E&P acquires Tullow Uganda’s stake for $575m

French oil major Total SA said on Thursday that is acquiring Tullow oil’s assets in Uganda's Lake Albert oil project for $575m (Shs2.1 trillion), with $500m to be paid once the deal has been approved by the government and $75m paid when a final investment decision has been reached
A drilling rig at a drilling site in Uganda
CompaniesCorporate earnings and resultsMarkets

Fall in profits at Bank of Baroda on slowdown in interest income

Bank of Baroda suffered a large decline in profitability in 2019, reflecting the impact of a rise in expenses and a slowdown in interest income
A branch of Uganda's Bank of Baroda
CompaniesCorporate earnings and resultsMarkets

Dfcu profit rebounds as revenues recover

Dfcu Bank has reported a large rebound in profitability helped by strong growth in fees and commissions income, with the company's results boosted further by a drop in operating expenses
CompaniesCorporate earnings and resultsMarkets

Stanbic Bank earnings rise on robust trading gains

Stanbic Bank Uganda reported its strongest annual profitability in three years, boosted by a continued rebound in interest income and a large rise in gains from trading securities
A Stanbic Bank Uganda branch
CompaniesCorporate earnings and resultsEnergy, Oil & GasMarkets

Umeme posts record revenue growth in 2019

Umeme Limited said on Monday that revised tariff performance parameters negotiated with the regulator helped soften the impact of weak performances in the second and third quarters of 2019, with the company's results boosted further by reining in costs
Umeme Limited's service centre in Jinja
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