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Uganda: 2007 Financial Reports Spur Share Prices Upwards
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East African Business Week (Kampala)
5 May 2008
Posted to the web 5 May 2008
David Mugabe
Kampala
The 2007 financial statements released by financial institutions in the last week have caused positive ripples on the counters of the listed companies.
The DFCU counter was the most evident after months and years of dormancy.
The DFCU price moved 18.75% to close at $0.6 (Ush950) in the midweek from Ush800. For months and months, DFCU has been oscillating between $0.4 (Ush600) to $0.5 (Ush800). In the midweek deal, 14,807 shares were traded fetching a cool $8.2 (Ush14 million).
Bank of Baroda Uganda that has recently started on a city and country wide branch expansion stayed at $2.2 (Ush3730) per share.
Stanbic Bank Uganda also maintained a steady Ush235 per share.
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Uganda Clays Limited price moved 49.3% to close at $6.2 (Ush10,495) in the aftermath of a super rights issue oversubscription and the release of the financial statement by the company. UCL is set to build a new factory in eastern Uganda
Overall, there was not much movement on the Uganda bourse in terms of aggregate volume and turnover apart from the excitement on the UCL and DFCU counters, according to financial sources in Kampala.
Aggregate volume realized today was 498,074, while aggregate turnover was Ush168, 208,035.
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