Shareholders of Uganda’s listed power distributor Umeme Ltd ( NSE:UMME , USE:UMEM ) face lower dividends after the firm succumbed to more than 60 percent fall in net profit for the year ended December 31, 2020. The firm, which is listed on the Uganda Securities Exchange (USE) and cross listed on the Nairobi Securities Exchange […]
Umeme says ity has invested in replacing rotten wooden electricity poles with concrete ones, starting with those in marshes in the East and North East. Paul Jagenda, 27, a software developer, prefers Working from Home (WFH) to operating in office. While huddling in the workplace comes with croissants on the house, the small talk can […]
Technicians from the power utility firm Umeme at work in Kampala, Uganda. FILE PHOTO | NMG Shareholders of Uganda’s listed power distributor Umeme Ltd face lower dividends after the firm succumbed to more than 60 percent fall in net profit for the year ended December 31, 2020. The firm, which is listed on the Uganda […]
Power distributor Umeme Limited on Tuesday blamed a “challenging operating and regulatory environment” for the sharp fall in 2020 profits, with net income dropping 69 per cent to Shs43bn on the back of weak revenue growth. The utility’s revenue fell 6.5 per cent to Shs1.6 trillion, reflecting a slide in revenue from construction services provided […]
Kampala, Uganda | THE INDEPENDENT | Electricity Company Umeme Ltd has posted a net profit of 41.1 Billion Shillings from its 2020 operations. This is a decline of 69% from the 139.2 Billion Shillings it recorded in the year 2019. The huge fall in the profits is largely attributed to the effects of covid 19 […]
Listed companies including Umeme and dfcu Bank have cautioned shareholders and the public to exercise caution as they deal in the two companies’ stocks due to an expected drop in profits. In statements issued through the Uganda Securities Exchange, power distributor, Umeme said it expects its net profit to decline by more than 60 per […]
The country loses an average of Shs100b annually on account of power theft, power distributor Umeme has said. Mr Peter Kaujju, the Umeme corporate and communications manager on Monday at Mutundwe substation, said power theft contributes to a substantial financial loss to the country. “Within a period of 12 months, we lose an average of […]
Leading power distributor Umeme navigated a challenging year to register profit for its shareholders amidst a tough COVID19 operating environment and the regulatory lag in recovery of outstanding income. Although the profits declined, the giant utility managed to complete its capital investment programme of $75m (about sh279b) to improve the network distribution capacity, supply reliability […]
KAMPALA — Power distributor Umeme navigated a challenging year to register profit for its shareholders amidst a tough COVID19 operating environment and the regulatory lag in recovery of outstanding income. Although the profits declined, the giant utility managed to complete its capital investment programme of $75m (about sh279b) to improve the network distribution capacity, supply […]
An electric poll down, after the transformer vandalized Gulu, Uganda | THE INDEPENDENT | Government through the Uganda Electricity Distribution Company Limited -UEDCL made a loss of sh25.5billion in 2019/2020 financial year due to vandalism and power theft. UEDCL operates various businesses like leasing out electricity distribution infrastructure to UMEME, electricity pole plant operations and […]
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