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Equities total business this week was down 75.2% as UGX 259m was generated. Top gainer for the week was BOBU, which closed at UGX 200, up 5.3% while top flop was NVL, down 1.3% to UGX 691. The counter released its half year results which showed an 11% development in turnover to UGX 34.5bn largely due to TV, radio and printed matter advertising, plus circulation sales. Undeterred by the growth in sales revenue, there was a significant climb in the media giant’s cost of sales and operating expenses, unrivalled to a 20% dip in after tax profits. The drop in price reflected the waterfall in investor confidence subsequent to the results. The ALSI rose by 3.6% to 815.15 while UGX/USD closed at UGX 2,315.
