Overall Turnover slightly declined by 2.35 % from last year. Circulation , overall Advertising and Events’ revenue streams registered growth of 5.24% , 0.82% and 20.96% respectively while Commercial Printing revenue declined by 33.11% from the same period last year.
Print and Digital advertising revenues grew by 4.82% and 32.0% respectively while Radio and Television revenues declined by 11.92% and 2.21% respectively.
The decline in revenue was largely due to the continued drop in print advertising media spend and a general low economic activity level in the industry.
Cost of sales increased by 0.05% and was kept high due to the increasing global newsprint prices coupled with the adverse effect of depreciation of the Ugandan shilling against the dollar. Administrative expenses marginally increased by 1.88%.
The Directors have not recommended payment of an interim dividend in accordance with the company’s practice of only paying the dividend at the the end of the Financial Year.
To find out more about NVL performance highlights, Please see the attached extract below.