Umeme H1 profit up 22pc on improved efficiency

August 20, 2018 in Business, Companies by Editor

August 20, 2018 – Uganda’s power distributor Umeme today announced a 22pc improvement in half year profit on the back of increased energy sales and narrowing system losses.

Energy sales were up 8.6pc over 2017 H1, driven by a surge in  demand by industrial customers that drove peak system  demand to 596MW. Overall, 82,373 customers, 46 of them industrial, were added to the network dueing the period. The gross customer base  rose to 1,207,664 customers, 76pc of them on prepaid metering that now account for 24pc of total revenue.

Energy losses were clawed back to 16.7pc against 17.5 in 2017 H1. Revenue collection remained at 99.2pc.