New Vision Profits To Reach Sh1.6b

THE New Vision Printing and Publishing Corporation has hit a sh1.5b pre-tax profit, and expected to rise to over 1.6b at the end of this financial year, reports Milton Olupot. The Chairman Board of Governors, Mr. Ateker Ejalu, on Saturday said, “This year, our efforts have been fruitful, we realised a turnover of sh17.9b, up from sh14.9b last year, representing a 20% growth.” Ejalu was speaking to the workers at the end-of-year party held at the head office on 3rd Street Industrial Area. The Deputy Speaker of Parliament Ms. Rebecca Kadaga was Chief Guest. “As the board, we are satisfied that the company is in good financial health which can be confirmed by our external auditors,” he added. Kadaga called for increased co-operation between the Parliament and the press. She said the Parliament will soon begin live broadcasts of the house proceedings and help would be needed from the press as the Parliament builds up its own work force. She hailed The New Vision for its wide and balanced coverage including its sister papers. She handed over certificates of merit to the best workers of the year. The Managing Director and Editor In-Chief William Pike in statement read for him by the Acting Corporation Secretary, Robert Kabushenga, thanked the company workers for their efforts. He said the success of the company is evidenced by the construction work going on next to the head office, for Circulation and Commercial Printing Departments. He said a block for Editorial and Administration departments would be ready by 2003. Ejalu said The New Vision website is considered the best in the country and is generating a lot of traffic with over four million visitors per month. Ends