James Odomel
9 November 2008
Kampala — THE National Water and Sewerage Corporation (NWSC) has made a sh10.8b profit after tax for the year ended June, Dr. William Muhairwe, the managing director, has said. He said the utility body made a sh1b profit last year.
According to the income statement, the taxation credit also increased from sh5.7b in 2007 to sh7.1b this year.
Depreciation and amortisation was sh12b compared to sh11b last year.
"The net finance income also increased from sh394,645 last year to sh447,248, this year," the statement said.
The water and sewerage income also increased from sh68b in 2007 to sh79b this year, it said. Sh3b was deferred income for this year compared sh1b for last year. Dr. Muhairwe said the profit they realised was used for sector investments.
"The surplus money we make is used for minor sector investment, like buying of meters, new connection materials, repairs and computerisation and investing in small additional water works without going to the Government and donors," Dr. Muhairwe said.
The managing director last week said NWSC needs sh106b to revamp the sewerage systen in Kampala.
Be the first to Write a Comment!
Copyright © 2008 New Vision. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.
AllAfrica aggregates and indexes content from over 125 African news organizations, plus more than 200 other sources, who are responsible for their own reporting and views. Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica.
