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On the Equity Market | Uganda Stock Analysis 06-April-2012
Equity turnover this week registered a 46.8% drop to UGX 82m. The SBU counter generated 82% of the total turnover and closed flat at UGX 100 despite the fact that the bank released its FY11 results, registering a 69% growth in PAT and declaring a dividend of UGX 4.9.
Demand on the counter however is on the high end and a price rise is expected in the short term. Top loser was UCL which closed at UGX 35 down 12.5% while activity on the rest of the counters was minimal. The ALSI was up 6bps to 990.73 and the UGX/USD closed at 2,485.
Stanbic Uganda released FY11 results, with a Profit after Tax growth of 69% to 121.7bn. This was mainly due to good growth in interest on loans of 69% to UGX 266.7bn. Loans and advances grew by 26.5% to UGX 1.5trn while deposit growth was 3.4%. T
he directors have resolved to recommend to shareholders at the forth coming Annual General meeting, a final dividend for the FY11 of UGX 4.9 per share.
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